I have been reading the layoff section of several of the larger Health Insurance Companies that offer Medicare Advantage plans.
And they all appear to be making, what at least I feel is a mistake…at least from a humanitarian aspect. They are all exchanging American citizen jobs by swapping them out for two things: Artificial Intelligence & Outsourcing to foreign countries.
I believe that C-suite Executives for all these companies are gearing up for what they already perceive, as follows:
—Medicare Advantage is no longer profitable, which Insurance Execs see, the Government sees, and even the members are starting to see (as MA plans that used to be rich with benefits are now getting skinnier)
As a result, I believe and predict the following:
—Within the next 5 (five) years, MA will completely tank and the largest of the large private Medicare Insurance companies will all submit to the Government RFP (Request For Proposals) bidding to get a contract to administer Original (Traditional) Medicare on behalf of the Government. Note: That is not the same thing as administering MA plans that happen to be funded by the Government.
Because doing this will need to be much more streamlined and not have all the human overhead, which also comes with different challenges, I think this is what Insurance Company Executives are preparing and getting “house cleaned” in advance, as it were.
Side note, and I say this in jest. If 5 (five) years from now, my prediction show to be true, as a sort of concession prize can someone please send me a check for a million dollars? I am kidding! Lol