The Medicare Debate Seniors Need to Know Facts

by Cindy on August 17, 2012

As an older person approaching medicare in less than a decade, I feel it’s my duty to really inform senior citizens about what they are facing for future Medicare costs and coverage.

There is a huge political debate going on right now, and just to clarify, I am neither a Democrat nor Republican. I vote for the person with the best qualities, ideas, and who stand behind their concepts not flip flopping all over just to appease people.

So, if you’ve been hearing what President Obama has to say about his Medicare plan and presidential hopeful Mitt Romney is saying, here are the facts:

Mitt Romney says: (Although he doesn’t divulge a plan just a blueprint) – Medicare would be cut by $716 billion, and some 4 million people would be kicked off their Medicare Advantage plans. Under his plan, current seniors would see “no adjustments, no changes, and no savings. He also states that Obama would “bankrupt” Medicare, while Romney’s plan would leave the federal retiree health-care program “solvent. Approximately 4 million people will lose their coverage under Medicare Advantage, Romney claims.

FACT CHECK:

President Obama has extended the life of the program by nearly a decade. If Romney gets Medicare his way, it will run out of money by 2016. The president’s health care law eliminates insurance company subsidies and cracks down on waste and fraud in Medicare – saving $716 billion – and doesn’t cut a single guaranteed Medicare benefit. In fact, Ryan has included something similar in his health care plan that Romney thinks is marvelous.

The $716 billion in Medicare funding cuts are part of Obama’s 2010 health-care overhaul. It is estimated that 4 million seniors would shift off the Medicare Advantage program, which offers seniors a chance to buy into a series of advanced coverage plans, but there are no elimination of coverage for anyone with this new plan.
The Romney-Ryan budget eliminates the guarantee of Medicare and instead provides people with a voucher to buy health care. In fact, a voucher plan authored by Paul Ryan and endorsed by Romney would cost future retirees an additional $6,400. Seniors would get a voucher to purchase private medical insurance and if it didn’t keep up with the cost or be enough to purchase the insurance, the remaining amount would be left up to the senior to fund them.

On the whole, for Americans without Obama’s Healthcare plan, and with the proposed Romney/Ryan plan according to estimates commissioned by the Kaiser Foundation and made by researchers at the Urban Institute, the end result would that between 14 and 27 million low-income Americans would lose health insurance.

So, there you have it, you decide.

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