In this episode of Gross Domestic Problem, William is joined by Marc Goldwein, Senior Vice President and Senior Policy Director at the Committee for a Responsible Federal Budget. William and Marc explore the massive inefficiencies in U.S. healthcare spending, particularly within Medicare Advantage. They reveal how "upcoding" by private insurers could cost taxpayers up to $1.5 trillion, highlighting systemic problems like inflated risk scores and unnecessary payments. Marc argues that significant fiscal savings are possible by addressing healthcare spending inefficiencies without cutting benefits, but this requires bipartisan cooperation and public understanding. One key takeaway is that solving healthcare spending is crucial to managing the national debt and represents a moral obligation to future generations. Don’t miss this engaging conversation.
Key topics in today’s conversation include:
- Current State of U.S. Healthcare (1:01)
- Introduction of Guest Marc Goldwein (3:15)
- Government’s Role in Healthcare Spending (5:57)
- Medicare Advantage Overview (9:43)
- Cost Control in Traditional Medicare (12:07)
- Incentives and Risks in Medicare Advantage (15:12)
- Upcoding in Medicare Advantage (18:24)
- Risk Adjustment in Medicare Advantage (21:17)
- Estimates of Medicare Advantage Overpayment (25:17)
- Deficit Reduction Strategies (29:20)
- Waste in the Healthcare System (33:55)
- The Need for Comprehensive Budget Reforms (36:24)
- Understanding Medicare Cuts (38:24)
- Bipartisan Solutions for Healthcare (42:13)
- The Importance of Shared Pain (46:04)
- Final Thoughts and Takeaways (48:11)
Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation.
