Health Subcommittee Chairman Buchanan Opening Statement – Hearing on Medicare Advantage: Past Lessons, Present Insights, Future Opportunities

Today, Ways and Means Health Subcommittee Chairman Vern Buchanan (FL-16) delivered the following remarks during a hearing on Medicare Advantage.

As prepared for delivery

Thank you to the witnesses for being here today to discuss an important issue: Medicare Advantage or "MA."

MA is a very popular health insurance option that plays a vital role in providing high-quality, affordable care to millions of Medicare seniors, including more than 100,000 of my constituents.

Nationwide, 54 percent of Medicare beneficiaries choose MA plans over traditional fee-for-service Medicare plans. In Florida, 60 percent of Medicare beneficiaries are enrolled in MA.

MA beneficiaries spend less on care and have better health outcomes than those with traditional Medicare-leading to lower and more efficient costs across the system.

MA beneficiaries generally also have more access to benefits traditional Medicare doesn't cover, like lower out-of-pocket costs, vision, dental, and hearing coverage, prescription drugs, preventive services, chronic disease management care, and a host of other supplemental benefits.

I'm particularly excited about the supplemental benefits MA plans provide to improve health and wellness, such as access to fitness memberships, wearable technologies, and healthy meal options.

95 percent of MA beneficiaries are satisfied with the care they receive, and it is important to examine the program to ensure MA continues to deliver for patients.

For example, we have heard many stories of excessive prior authorizations and payment delays that negatively impact patient care.

Similarly, outdated financial incentives may contribute to some unjustified payments in the MA program.

Fortunately, we have the ability to modernize the benefit to ensure patients receive the best care, reduce burden on providers, and better manage overall health care costs.

Transparency is crucial for maintaining trust in the system and ensuring efficient use of taxpayer dollars. I believe we can protect the integrity of MA while ensuring it remains a strong option for beneficiaries.

I look forward to discussing these opportunities with our witnesses today and hope all of my colleagues will focus on the topic at hand.