MASSDEVICE ON CALL — When likely Republican presidential nominee Mitt Romney tapped Rep. Paul Ryan (R-Wis.) as his running mate, it put Medicare front and center in the campaign for the White House.
That’s because of Ryan’s ambitious budget proposal and its implications for Medicare, the government insurance program for the elderly and disabled. Ryan’s proposals have won approval twice in the U.S. House of Representatives but were stymied in the Democrat-controlled Senate.
Should the Romney/Ryan ticket find favor with voters in November, it could mean drastic changes for Medicare. Here’s a look at what might be in store:
- Free-market shift: Medicare enrollees would get a fixed amount each year to spend on a health plan, public or private, from an exchange of competing plans, according to Kaiser Health News.
- Eligibility age increase: By 2034, Ryan would raise the eligibility age for Medicare from 65 to 67. (Ryan’s proposal would apply only to future Medicare enrollees who are now under age 55 – current and prospective enrollees would get Medicare as-is.)
- Spending cap: Medicare spending increases would be capped 0.5% above the gross domestic product, pegging spending increases to the U.S. economy.
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