Gillibrand, others push to cap Medicare costs
U.S. Sen. Kirsten Gillibrand (D-NY), ranking member of the Senate Aging Committee, along with 14 of her Senate colleagues, introduced the Medicare Cost Cap Act to create a $5,000 cap on out-of-pocket costs for Traditional Medicare (Parts A and B) beneficiaries. Currently, Traditional Medicare does not have a limit on out-of-pocket costs, meaning beneficiaries are confronted with unlimited, catastrophic health care costs if they face serious illness or hospitalization. Medicare Advantage (MA), employer-sponsored insurance, and insurance bought on the marketplace all have annual caps on ...