Medicare | Common Sense Ideas for Reducing Medicare Costs!

We've heard a lot of talk from pundits and politicians with dire warnings that Medicare is headed toward bankruptcy, but there has been precious little action. Here are some common-sense ideas for reducing Medicare Costs for 2022 without sacrificing recipient benefits. All will require political will, but that is not all that is required.

There is a role to play for patients, providers, and insurers, as well as government. While some of these ideas will require Federal action, others can be implemented at the state level, providing an opportunity for forward-thinking states to take a leadership role in health reform.

Intensify Focuses on Prevention

Example: Type 2 Diabetes, a significant and growing cost driver for Medicare, is largely preventable. NIH has already piloted a program that can prevent or delay the onset of diabetes in 58% of patients with pre-diabetes. Considering that 24% of current Medicare beneficiaries have Type 2 Diabetes, and this rate is growing, preventing new cases of the disease can be a cost-curve bender. Foster innovation at the state and local levels in programs that reduce healthcare costs while improving quality.

Accelerate Success

Develop mechanisms to identify successful programs and initiatives that reduce costs without sacrificing benefits, and accelerate the widespread adoption of those programs. Invest in grants for the implementation of proven programs.

Allow Seniors Aged 60 to 65 to Buy Into Medicare

Private insurance for this population is exorbitant, often prohibitively expensive. Medicare could offer insurance at more affordable rates to this population that is statistically healthier than the current Medicare population, yet not desirable to private insurers.

This population would cover its own costs, and the small profit would help offset overall Medicare costs. Ensuring a good standard of care and prevention in this age group can result in a healthier population entering Medicare at age 65, resulting in further savings.

Explore Ways to Reduce the Very High Cost of Dying 

conversations that need to be held. We need to determine, for each individual, what comprises the best end-of-life care and implement those personal decisions. There is already a range of programs that can improve end-of-life care while reducing costs, by focusing on quality over quantity quality of life and quality of care, over quantity of life and quantity of care.