Kaiser study: Romney’s Medicare plan raises costs

Kaiser study: Romney’s Medicare plan raises costs

The Romney/Ryan Medicare plan is pretty straight forward: end the guaranteed benefit, and transition seniors into a voucher system -- effectively giving the elderly a coupon towards private insurance. What happens when the value of the coupon fails to keep up with rising costs? Too bad -- you should have thought of that before Election Day 2012.
To hear the Republican candidates tell it, this is worthwhile anyway, not because they're obsessed with privatization or tearing down public pillars of American society, but because upending the entire Medicare system would save money and improve our broken finances.
The detail that often goes overlooked is how exactly turning Medicare into vouchers would "save money." As a practical matter, the Kaiser Family Foundation found, it'd save the government money, but cost you more, even if you opted to stay in the public system.


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