Bad News For Medicare

The House Republican Study Committee (RSC) has released their budget plan for fiscal year 2019 – and it is bad news for Medicare and Social Security.

According to Republicans:

Curbing spending is the only way to control our deficits and ballooning debt. Without resolute action now, we run the risk of an unstoppable debt spiral and ultimately a sovereign debt crisis.

Funny how they don’t mention their trillion dollar tax cut that created the crisis.

The Republican plan is bad news for Medicare and for seniors down the road.  From the Republican budget plan:

Beginning in 2023, this budget transitions Medicare into a more flexible health insurance program similar to both the system that federal employees enjoy and to the current Medicare Part D. The improved  program would allow participants to choose among Medicare plans offered on a regulated exchange. Enrollees in Medicare would receive assistance from the Federal Government to offset the cost of their health insurance policies.

Interesting how the Republican plan would make Medicare operate a lot like Obamacare – which Republicans claim to hate.

From the Republican budget plan:

Seniors could direct this payment to the Medicare plan of their choice offered on a regulated exchange, including both private plans [Medicare Advantage] and traditional fee-for-service Medicare. To guarantee that health insurance remains accessible and affordable, the government’s financial assistance would be adjusted for the beneficiary’s current state of health, the cost of medical care in the area where they live, and the individual’s wealth and income.

These changes would also include bad news for Medicare beneficiaries (seniors).  It includes:

  • Raising the Social Security full retirement age to 70;
  • Raising the Medicare eligibility age to 70;
  • Ending traditional Medicare by privatizing the program by pushing people into Medicare Advantage.
  • Using a “chained” Consumer Price Index (CPI) to calculate Social Security Cost-of-Living Adjustments, which would cut benefits.

 

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