‘Revamping’ Medicare? The Word They’re Looking for Is ‘Slashing’
By Jim Naureckas | 04/04/2011
4/4/11) on Republican Rep. Paul Ryan’s deficit reduction plan.
Under the proposed rework of the Medicare program, seniors would chose from several federally subsidized health plans. The changes would take effect in 2021 and would not affect people who are 55 or older now, Ryan said.
hard to explain: He wants to replace Medicare with a system where seniors would receive vouchers to buy health insurance. As the cost of health insurance rises every year, the value of the vouchers would rise by not as much. Eventually the difference between the value of the vouchers and the cost of buying health insurance, along with a similar scheme for cutting Medicaid reimbursements, would amount to $4 trillion–which would be the amount that would come out of the pockets of seniors and the poor, plus the amount of healthcare they would do without.
JIM NAURECKAS is a senior editor with FAIR.
Tags: Kathleen Hennessey, Medicare, Paul Ryan