February 29, 2012

THE REVOLUTION WILL NOT BE RECOGNIZED:

Ryan's Medicare Revolution: With little fanfare, the Wisconsin Republican congressman has persuaded presidential candidates and even some Democrats. (FRED BARNES, 2/29/12, WSJ)

Over the past year, an entitlement revolution has taken place on Capitol Hill. It has gotten relatively little attention from the media. Yet its implications for the budget deficit and the health care of senior citizens are enormous.

The revolution involves Medicare, the health-care program for the elderly and the single biggest cause of America's looming debt crisis. Reform of Medicare would be achieved by a policy known as "premium support." It would bring consumer choice and spending restraint to the beleaguered program.

You may not have heard of premium support. But thanks to the efforts of Paul Ryan, the Republican chairman of the House Budget Committee, it is now the leading alternative to current, fee-for-service Medicare. Indeed, it is the only credible alternative.

How would premium support work? Beginning in 2022, it would create a marketplace in which seniors have a fixed amount of money to buy health insurance. The amount of "support" would match the price of the insurance "premium." The poor would get additional support to offset out-of-pocket expenses. The better-off would get less. Payments would be "risk-adjusted" so the sick would be assured of full coverage.

Shhhhh...the Right thinks we're losing...
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Posted by at February 29, 2012 8:26 PM
  

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