So what is Paul Ryan’s plan for Medicare? Ryan is best known in Congress for his budget proposals, and the Medicare provisions in his budget proposals have garnered a lot of attention. Seniors are concerned about their ability to get healthcare in the future, as the Patient Protection and Affordable Care Act cuts $716 billion dollars from the Medicare budget.
Learn more about what is Paul Ryan’s plan for Medicare!
Before discussing Ryan’s budget proposal, it is important to note what the Romney Ryan ticket would do with the present laws if they get elected in November 2012. It is expected that they will push to repeal the entire law. As it stands, ObamaCare is the law of the land, and taxpayers will begin to feel the full effects of the legislation with new taxes in 2013.
The Paul Ryan Medicare plan does not change anything for seniors who are at least 55 years old. The changes to Medicare in Ryan’s plan include major changes for the younger generation. The proposal establishes a new voucher program where younger participants can choose their own healthcare provider, or they can go with the existing Medicare fee-for-service model that older Americans already have.
Regardless of the model we face in the future, it is likely that Americans will face higher healthcare costs in the future. The United States faces a challenge where we have to find ways to maintain affordable health care coverage we can without significantly increasing the federal deficit and without passing on significant costs to Americans. Both plans will likely increase the costs for most Americans, but the Ryan plan is more sustainable.
Recent estimates have shown that Medicare is facing as much as $100 trillion dollars in unfunded liabilities with the new laws, so something has to be done with Medicare. Privatizing Medicare for younger Americans appears to be the most affordable way to pay for these new fees.