Printable Version
July 30, 2007
Monday, July 30, 2007
On 42nd Anniversary, Medicare Faces Crossroads
Help for Seniors Threatened by Big Subsidies to Insurance Companies
For Immediate Release July 30, 2007
The following statement was issued today by Edward F. Coyle, Executive Director of the Alliance for Retired Americans.
“As we celebrate today’s 42nd anniversary of Medicare, this historic effort to help seniors faces a dangerous crossroads.
“The increasing privatization of key Medicare programs – fueled by $7.5 billion in annual overpayments to insurance companies through falsely-named Medicare Advantage plans – siphons away money from the Medicare Trust Fund. Seniors’ health care is being sacrificed for the profits of large corporations.
“Seniors should be deeply concerned about recent high-profile media accounts of publicly subsidized Medicare Advantage companies using bait and switch marketing tactics to confuse and mislead seniors and deny them medical care. These private programs cherry-pick those they want to serve, leaving behind those most in need.
“Pending legislation – H.R. 3162 – on Capitol Hill would stop these overpayments to Medicare Advantage insurance providers. I can think of no better way to honor Medicare’s 42nd anniversary than by ending this corporate welfare and returning Medicare to its original mission – helping retirees afford their health care and prescription drugs.”
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Contact: Marcie Kohenak (202) 637-5178 or mkohenak@retiredamericans.org