On Monday, May 9th, Hillary Clinton expressed her favor for those in their 50’s to have the option to buy into Medicare. Clinton first advocated the option in 2008 and her husband, President Bill Clinton, supported the buy-in option for ages 55-64 in 1998. Clinton plans to work with state governors to add to their ACA programs for the Medicare expansion.
Supporters feel that having the public option will give private companies the incentive to give their policy holders better quality benefits at more affordable prices. Those opposing the option believe private companies will be edged out by commercial and employer plans as well as the option itself.
What could this mean for Medicare supplement insurance? Would new Medicare purchasers be allowed to qualify for Medicare Advantage? It’s hard to gauge at the moment, but if Clinton is elected it will be a hot industry topic to watch.