Five key takeaways:
- In 2023, 4.5 million Medicare members will face more than $5,000 in cost-sharing expenditures for care.
- Medicare members who spend more than $5,000 are estimated to see average cost sharing at $10,500 in 2023.
- If a $5,000 spending cap was implemented under current law, it would increase federal Medicare spending by 7.8 percent, or $38.8 billion. Part B and D premiums would likely be increased to fund the cap.
- Supplementary plan spending would likely decrease by $12.3 billion with a cap in place.
- Total spending on services for Medicare enrollees is estimated to increase by $14 billion, or 2.3 percent, in 2023.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.