Ryan's Medicare Plan Will kill MEDICARE!! Here's an explaination of the bill.

Rep. Paul Ryan's plan to privatize Medicare would accelerate a trend started several years ago by corporate CEOs and their political allies to shift ever-increasing amounts of risk from Big Business and the government to workers and retirees.

If enacted, the Ryan plan would represent a windfall of unprecedented proportions for insurance corporations and other businesses.

For millions of average Americans, many of whom already are finding it impossible to save for retirement, it would represent financial calamity. The nation's middle class would pay dearly for Ryan's proposed shredding of the social safety net that Medicare currently provides.

Ryan, chairman of the House Budget Committee, wants to dismantle the Medicare program and replace it with a system of vouchers. Starting in 2022, the government would give the average 65-year-old Medicare beneficiary $8,000 a year to buy coverage from a private insurer. That's the amount health care analysts estimate will be what the Medicare program will spend on every 65-year-old in 2022 if the government doesn't turn it over to private insurance companies.

While that might sound fair on the surface, it would actually be a very bad deal for people who turn 65 that year, compared to those who turn 65 in 2021. That's because commercial insurance plans are much more expensive, and operate far less efficiently, than the current Medicare program.

The amount of money commercial plans actually spend to pay medical claims has been declining rapidly over the past several years while the amount they spend on administrative activities such as marketing and underwriting -- and to pay executives and reward shareholders -- has been increasing. That's why Congress included a provision in last year's health care reform law to require insurance firms to spend no more than 20 percent of their policyholders' premiums on overhead. By contrast, the current Medicare program spends just 3 percent of its budget on administration.

The nonpartisan Congressional Budget Office says the $8,000 voucher won't be nearly enough for seniors to buy comparable coverage from private insurers and pay the additional out-of-pocket costs that those insurers would require them to pay. The amount the average 65-year-old would have to shell out to buy private insurance in 2022, according to the CBO, will actually be $20,510. Seniors would have to pay the difference -- $12,510. If Medicare is not privatized, the difference would be $6,150.

Here's why this would be a dream-come-true for the insurance industry: The more health plan enrollees have to pay out of their own pockets, the less insurers have to pay for medical care. The money that insurers avoid paying out in claims goes straight to their bottom line -- and into shareholders' pockets.

Category:

News & Politics

Tags:

• economic politics news
• Rand Paul
• Medicare
• GOP Budget
• Vouchers
• government

[HSOUIXZ]

Please my You Tube Channel for the links.

For some reason (rolls eyes)

You Tube has prevented me from posting them here.

[HSOUIXZ]

@HSOUIXZ

Please SEE my You Tube Channel for the links.

For some reason (rolls eyes)

You Tube has prevented me from posting them here.

HSOUIXZ 17 hours ago

(error corrected for clarity's sake)

[HSOUIXZ]

"These are the voting records for each member of the House & Senate on the Gramm-Leac­h-Bliley Act that set the stage for our financial collapse. If your state was hit harder than others it would be good for you to know if your Congressma­n or Senator voted for or against it.

[HSOUIXZ]

This is the Republicans wanting to you Medicare funds for purpose other than intended.

[xoxak888]

I am not far away from medicare receiving age and love to have current medicare program. But, I wonder how government will deal with every increasing debt caused by all those social welfare programs.

[HSOUIXZ]

@xoxak888

Watch the video again. Medicare is NOT a "social welfare" program. You PAID for your participation on the system buy contributing 1.45% of your wages for EVERY dollar you have earned through out your entire life time.

In addition...if you work past 65..which many will have to do...and you will continue to contribute until you have reached 77years of age,

THIS NOT A FEDERALLY SPONSORED STATE RUN PROGRAM.

Their is a trust which has ENOUGH money to support the program.

[jeAh7]

@xoxak888 Look at tax cuts for the rich, rampant wars, subsidies for large corporations. I wonder why this country is in debt.

[tripfunkmonster]

Is Paul Ryan human? I'm serious. Is it possible for a human being to be so hateful of fellow humans? I don't think so. I have a certain minimum requirement to consider someone human and Ryan doesn't pass. More difficult to believe is how he got elected. I don't think he could have actually won an election. There had to be vote fraud. That many people couldn't be that stupid.

[NuckinFutzGirl]

@TheKmbt

One can only hope!

[TheKmbt]

The one good thing about Ryan's budget proposal is that it will put a lot of right wingers out of thier jobs and homes. They'll have to move in with the kids who won't have jobs either. Many will die from lack of proper affordable health care. I'm all for that.

[xoxak888]

@HSOUIXZ Thanks for input. I also very much like to keep current system on my behalf. But, I am still worried that this country may default.