The Medicare plan in Ryan’s latest budget, which presidential running mate Mitt Romney, according to Talking Points Media, says is “close to identical” to his own, indicates that within 10 years “Medicare would be remade into a subsidies system where seniors can buy insurance from a menu of private plans and a government option, with vouchers aimed at covering the cost of the cheapest two policies on the exchange.”
Ryan’s plan, while opening up bidding by private insurers, would require them to offer a minimum set of benefits at least equal to what is offered by traditional Medicare. The government would pay an amount equal to the premiums for the private plan with the second-lowest rate. Someone choosing a plan offered at a lower rate could receive a rebate for the difference, while someone opting for more expensive coverage would have to pay the difference out of pocket.
So, yes, there are fundamental differences between the parties’ positions on health care and Medicare as presented in recent years and reinforced during the recent national conventions. Even so, we shouldn’t forget that Republican presidential nominee Mitt Romney oversaw a major state-administered health insurance program, much like “Obamacare” in its aim to extend health coverage to the uninsured, during his tenure as Governor of Massachusetts.
Clearly, whatever differences you may have perceived from watching this year’s national conventions, both parties seem committed to preserving Medicare in some form.
During his RNC address, Ryan made a personal connection to Medicare when he talked about his grandmother, suffering from Alzheimer’s, who received Medicare benefits as she and her family did their best to cope with her condition.
Ryan has pledged that his health care proposals won’t affect anyone currently 55 or older, and in his address he spoke about his commitment to preserving Medicare. “Medicare is a promise, and we will honor it,” Ryan said. “A Romney-Ryan administration will protect and strengthen Medicare for my mom’s generation, for my generation, and for my kids and yours.”
In the wake of the DNC, the Democrats’ commitment to preserving Medicare seems every bit as strong. As Zach Harrow wrote in an earlier post, “The bottom line is that your Medicare, Medicare supplement, and Medicare Advantage benefits appear to be secure under the Obama plan or the Romney plan. Changes are already in progress, and plenty more are certain in a society with an ever-increasing median age, but it’s good to know that seniors and people approaching retirement can get on with enjoying their lives secure in the knowledge that no one is about to pull the carpet out from under them.”
What do you make of the parties’ plans for Medicare? Please leave a comment below!
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