Concern about the longevity of Medicare

Apr 24, 2019

  1. tomr15
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    tomr15 New Member

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    With 2020 fast approaching, I have been starting to think about the future of Medicare sales for those of us who participate in that market. Can anyone with a bit more insight than myself elaborate on what the ACTUAL chances of Universal Healthcare (I refuse to call it M4A, as that is an inherently misleading term unless you are actually referring to giving the red white and blue card to everyone) being enacted any time soon are? MAPD sales have become a huge part of my income and I really don't know what the future holds. I have heard some people say its inevitable, while others believe the insurance companies would never let that happen. I am only in my 20s, so I have an entire career to plan for. Of course none of us know any certainties, but any insight at all would be appreciated.
     
    tomr15, Apr 24, 2019
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  2. axeman462
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    axeman462 Guru

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    (not that I want it to happen but)i can see it happening within the next 10 years or so. however, I dont think insurance companies will ever go away. I see it more as how Medicare is currently set up for 65+ and Disability, but expanded for everyone.

    Deductibles may go up, Part B premiums may be higher, tweeks here, adjustments there, but basically the same thing.

    I know some think it will be the end for us; for some reason people think they will do away with the insurance agent (drawing parralells from Obamacare). I disagree, I think it will be a cash cow for us. It will take a lot of man power to roll out and maintain the clentelle, and the insurance companies will not be able to do that without the broker community. The main reason the brokers got cut out from Obamacare was that it was underfunded. The insurance companies were not making enough, and could not afford to pay commissions. Medicare will be different, as all government healthcare funds will be funneled to the program, therefore having sufficient funds.

    I think it would be a cash cow for us MAPD brokers. Again, I am against the expansion of Medicare, but admittadly, I think it would be good for my business.
     
  3. billyb
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    billyb Guru

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    I don't trust the government. Remember Tricare for Life? I lost over $6000 in monthly renewals because of it.
     
    billyb, Apr 24, 2019
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  4. policywunk
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    policywunk Expert

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    I can't imagine that any Medicare for all program that wouldn't actually be a Medicare Advantage for all plan however the socialist regime would not be happy about agents who are " medicare millionaire's " so IMO they would they probably will phase out commissions to agents eventually.They will need health insurance companies more than ever to manage these plans so if Bernie is elected buy stock in UHC , Humana,Aetna etc.
     
  5. somarco
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    somarco GA Medicare Expert

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    Medicare for all will be MEDICAID for all.
     
    somarco, Apr 25, 2019
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  6. UKTX
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    Meanwhile, in other news, Medicare is reported as being bankrupt by 2026.

    So who knows what will happen.
     
    UKTX, Apr 25, 2019
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  7. Newby
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    Newby Guru

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    The Dems that are pushing Medicare for all do NOT like Medicare Advantage. They see it as taking government tax money and paying it to “for profit” businesses. They have always opposed it.

    If they ever get any type of single payer system it will not involve insurance companies. That’s my guess at least.
     
    Newby, Apr 25, 2019
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  8. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    And when they lower the payments to the Doctors more than they have, you'll see fewer people becoming doctors and less innovation in the medical field. Just like Socialism in general it'll take away the incentive to spend all that time and money(unless Pocahantas gets elected, then college will be free)to become a doctor.

    Does any of this even matter since the world is ending in 12 years? :goofy:
     
  9. Yagents
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    Yagents Guru

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    Obamacare was not underfunded, quite the opposite.
    Carriers mis-priced plans, and got slammed with losses by offering wide PPO networks.
    The losses, and lack of interest to attract loss leader customers, is why commissions got cut. Now that stability has arrived in ACA, commissions are increasing again.

    The value of the agent will never cease, as long as they allow professionals to charge fees for advice, I will still be around. The gov't never builds anything that is easy, nor comprehensive. Private plans will be available to fill in the holes, or purchase outside of Medicare for those that want a choice. I think even democrats now realize they need agents, since we represented 40% of the ACA enrollments.

    My personal ACA plan sucks, and the public ground swell continues swelling with the same sentiment. If Dems get 60 votes in the Senate (and not until then), and the white house, M4A will be here in 5 yrs from now. Unless Dems go the nuclear option with 51 senate votes, then we will see a revolution. And Dems hate Bush's Advantage plans as mentioned given handing over money to profit "scum bags".
     
    Yagents, Apr 25, 2019
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  10. junkman
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    Medicare will change. There won't be "market forces" as in people vote with their money as long as insurance is the specie of exchange.

    There will continue to be a way to make money in insurance.

    M4A is currently undefined. We can't pay for it because money won't flow out of the current methods of paying for the uninsured (currently higher premiums for those that have coverage) into M4A. We could transfer some of the gigantic amounts currently spend on our military offense to healthcare but then the offense industry would crash and we couldn't make money killing poor people.

    I note that all of the major MA carriers paid fines because of the Medicare fraud that they committed when claims and therefore payments received were artificially upgraded in severity. Of course the fines were much less than the revenue increase so it was a net gain.

    Apparently, we are left with lack of integrity and thievery on the corporate side and bureaucracy and incompetence on the other side - except at the top where we also have thievery.

    Go sell something.
     
    junkman, Apr 25, 2019
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