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REPORT: Seniors Will Pay $60,000 More For Medicare Under Romney/Ryan Plan
Source: Think Progress
REPORT: Seniors Will Pay $60,000 More For Medicare Under Romney/Ryan Plan
By Igor Volsky on Aug 24, 2012 at 9:53 am
The Romney/Ryan proposal to transform Medicare’s guaranteed benefit into a “premium support” structure for future retirees could increase costs by almost $60,000 for seniors reaching the age of 65 in 2023, a new report from the Center for American Progress finds. Current seniors would also have to pay more for preventive, hospital, and physician services should Romney and Ryan repeal the Affordable Care Act, facing an increase in health spending of between $7,900 and $18,600 over the course of their retirement.
Beginning in 2023, Romney’s proposal — which is modeled heavily on Paul Ryan’s FY 2013 budget — would provide all retirees with a premium support subsidy to buy coverage from an exchange of private insurance plans or traditional Medicare. Private insurance plans in each geographical area would bid for how much they would charge to provide Medicare benefits and the premium subsidy would be tied to the premium of the plan with the second-lowest cost, or the premium for traditional Medicare—whichever is lower. If seniors choose a plan that costs more than the voucher, they will have to pay the difference. As a result, most seniors will have to spend more on coverage. Here are 5 reasons why:
http://thinkprogress.org/election/2...medicare-under-romneyryans-plan-report-finds/
REPORT: Seniors Will Pay $60,000 More For Medicare Under Romney/Ryan Plan
Source: Think Progress
REPORT: Seniors Will Pay $60,000 More For Medicare Under Romney/Ryan Plan
By Igor Volsky on Aug 24, 2012 at 9:53 am
The Romney/Ryan proposal to transform Medicare’s guaranteed benefit into a “premium support” structure for future retirees could increase costs by almost $60,000 for seniors reaching the age of 65 in 2023, a new report from the Center for American Progress finds. Current seniors would also have to pay more for preventive, hospital, and physician services should Romney and Ryan repeal the Affordable Care Act, facing an increase in health spending of between $7,900 and $18,600 over the course of their retirement.
Beginning in 2023, Romney’s proposal — which is modeled heavily on Paul Ryan’s FY 2013 budget — would provide all retirees with a premium support subsidy to buy coverage from an exchange of private insurance plans or traditional Medicare. Private insurance plans in each geographical area would bid for how much they would charge to provide Medicare benefits and the premium subsidy would be tied to the premium of the plan with the second-lowest cost, or the premium for traditional Medicare—whichever is lower. If seniors choose a plan that costs more than the voucher, they will have to pay the difference. As a result, most seniors will have to spend more on coverage. Here are 5 reasons why:
http://thinkprogress.org/election/2...medicare-under-romneyryans-plan-report-finds/
