Bill Would Establish V-BID Demonstration in Medicare Advantage

A bipartisan effort reintroduced legislation that would establish a demonstration in Medicare Advantage to evaluate the use of value-based insurance design's ability to reduce copayments and coinsurance for some Medicare Advantage beneficiaries, reported the University of Michigan Center for Value-Based Insurance Design.

A bipartisan effort reintroduced legislation that would establish a demonstration in Medicare Advantage to evaluate the use of value-based insurance design (V-BID)'s ability to reduce copayments and coinsurance for some Medicare Advantage beneficiaries, reported the University of Michigan Center for Value-Based Insurance Design.

The program would focus on beneficiaries with specific chronic conditions to see if the use of certain high-value medications and services resulted in improved health outcomes and reduced spending.

“With V-BID, a promising health insurance concept, both patients and taxpayers win, proving that if money can be spent in a more targeted, effective way, it’s also possible to improve the value of care delivered," said US Senator John Thune (R-SD).

Debbie Stabenow (D-Mich) added that the reintroduction of this legislation was a "win-win" as it improves care and lowers insurance costs.

Read more at the V-BID Center's website: http://bit.ly/1BiHTWA