Friday, April 15, 2011

The Ryan Plan and Medicare Out-of-Pocket Costs

By Victor Morawski
Would the Ryan Plan’s Medicare reforms actually result in higher out-of-pocket costs to seniors? This charge by its critics overlooks one of its most important cost-controlling features.
While much of the criticism from the Left greeting the newly announced Medicare reforms contained in The Path to Prosperity, the new budget proposed by Rep. Paul Ryan and the GOP, have been mostly empty rhetoric, recent charges by columnist Ezra Klein aimed at the cost savings of the Ryan plan have contained more substance.

Comparing the Ryan plan to ObamaCare, The Affordable Care Act, Klein portrays it as a plan whose “savings are largely an illusion” because it has “just taken the government’s medical-costs problem and pushed it onto families” who will ultimately be paying 70 percent instead of a current 30 percent of their Medicare insurance costs out-of-pocket — the real reason that the deficit goes down under the Ryan plan according to him.

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