Medicare is a national social insurance program, administered by the U.S. federal government, that guarantees access to health insurance for Americans ages 65 and older and younger people with disabilities as well as people with end stage renal disease. Medicare offers all enrollees a defined benefit. Hospital care is covered under Part A and outpatient medical services are covered under Part B. Medicare Part D covers outpatient prescription drugs. According to the 2012 Medicare Annual Report, the Trustees project that Medicare costs will grow substantially until Trust fund exhaustion occurs in 2024. This model is obviously in need of urgent repair.
Medicare Reform: Battling the Myths
Under Rep. Paul Ryan's (R-Wisc.) premium support model, seniors are not permitted to purchase a plan with less protection than Medicare.
from NCPA,

As the political hunting season begins, the Obama campaign is quick to misinform the public about the Republicans' plan for Medicare, arguing it would eliminate the program as we know it. Specifically in regard to Rep. Paul Ryan's (R-Wisc.) proposed reform to Medicare, opponents are calling it a voucher system that would put seniors at the mercy of insurance providers. But a look at the facts shows that this is not the case, says Diana Furchtgott-Roth, a senior fellow at the Manhattan Institute.

It is worth noting that Ryan's first proposal for reform is vastly different from his second one. The first one, proposed in 2010, is a voucher system that gives beneficiaries a set amount of money to use for a particular purpose, like the Supplemental Nutritional Assistance Program. The problem with this is that vouchers may not offer enough funds for seniors to purchase adequate health care.

Because of this, Ryan proposed a new plan in 2012 known as "premium support.

This plan is similar to the Federal Employee Health Benefits program, which allows government workers to choose the best health insurance plan for them and keep it during their retirement.

Read More: NCPA

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