President Obama is quite adamant in changing the way Americans deal with medical insurance in the country and fortunately for the better. President Obama wants to make this important aspect of life (Medical Coverage) more affordable and inclusive and for achieving this, he has made some concrete plans.
Recently Obama administration’s budget chief gave a speech to the insurance industry veterans and the bottom line message in clear terms was – the party is over.
Peter Orszag has laid it out in crystal clear terms that the government will no longer over pay companies that offer Medicare Advantage plans. As you all know this portion of the medicare is a privately run portion of the government run health care program for the seniors.
All parties in the game recognize that government spends a lot more amount of money than the private parties and initially when the program was created, the idea was that the competition would lead to lower costs for all involved. That certainly did not happen as was seen over the years.
For more on Obama health care plan and the direction the country would take depending on Obama’s medical plan is concerned.