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Thursday, October 27, 2011
The Ryan / Bobby Schilling Plan Doubles Medicare Costs for Future Retirees
If you look at the non-partisan Congressional Budget Office analysis of the Ryan / Bobby Schilling plan to “voucherize” Medicare (seniors would get a voucher to purchase insurance on the private market) you will see that it essentially doubles the cost of healthcare for seniors. According to their analysis (link is on the right), the average 65-year-old in 2022 would pay $6,150 under current law, but more than double that, $12,500 per year, under the Ryan / Bobby Schilling proposal. In 2030 (for all of you 46 year-olds who will be 65 in 2030), the cost will go from $9,138 under current law to $20,713.
On the “plus” side, I’m sure that private insurance companies will be sooooooo easy to work with and won’t give the elderly any hassles over coverage, deny benefits, or generally treat the elderly the way they treat everyone else.