Save Medicare Advantage program

To the editor:

Both in my career as a wealth advisor and my roles in serving on the school board and now county council, I am often asked to help make difficult financial decisions. 

How can we invest our money wisely and ensure we receive healthy returns on that investment? 

Are we sure this is the best use of our funds?

There is one funding question in Washington, D.C., however, that does not strike me as particularly complex: Whether to support the popular and successful Medicare Advantage program.

And yet, our policymakers keep underfunding Medicare Advantage, year after year.

Medicare Advantage covers 34 million American seniors — 54% of the Medicare-eligible population. Its popularity and high consumer satisfaction make sense; it offers more coverage options at low prices. But it isn’t just seniors who are saving money. 

The federal government benefits too. 

One recent study showed Medicare Advantage enrollment is linked to lower Medicare spending, saving the federal government $144 billion over 10 years.

Medicare Advantage delivers for seniors, and it saves money for taxpayers. Were I in the federal government, I would make funding it a top priority. Unfortunately, common sense isn’t so common in Washington. Instead of increasing funding for Medicare Advantage, the President Joe Biden administration cut rates in 2024 and 2025. 

Now, the scheduled rates for 2026 will also be insufficient. 

This will mean higher costs for seniors on Medicare Advantage at a time when life already feels unaffordable. 

I’m calling on Sen. Jim Banks (R-Indiana) and all who represent us in D.C. Help us save Medicare Advantage.

Bryan Alexander

Portland