veryday about 10,000 people ‘Baby Boomers’ age into the Medicare system. This mean that 10,000 people born between 1946 and 1964 are eligible for their healthcare cost to be cover by the federal government. Healthcare cost represent 16% of our national Gross Domestic Product (GDP). This means that for every $100.00 spent in the economy $16.00 is spent of healthcare costs. The economy will not be able to sustain itself with the growing number of individuals aging into the system on a daily bases. Special initiatives under the Centers for Medicare and Medicaid (CMS) are set up to reform care delivery and to reduce costs. One example is the institution of Medicare Advantage Plans, which are special insurance plans that work to coordinate care utilization.
Using the Kaiser Family Foundation. (January, 2013).Policy Options to Sustain Medicare for the Future as a reference, find a real example of a Medicare Advantage Plan and discuss the pros and cons of the plan. In plain terms, would you choose this plan for yourself or a family member? Do you think patients are happy with the plan? What are some of the limitations to the plan? Think about out of pocket costs for hospitalization, skilled nursing stays, supply cost.