Advocates are still reeling over the House budget resolution introduced by Representative Ryan earlier this week.
The House proposes to cut $1.43 trillion from Medicare and Medicaid and puts Medicare into the hands of the private insurance industry – leaving many seniors and people with disabilities without a financial safety net. Those who require long term care will inevitably suffer the most under Ryan’s plan, and many will end up losing the health care they need.
The Center for Economic and Policy Research (CEPR) has just put out a new report on the effects that the House bill will have on the Medicare population. Here’s just a bit of what they found:
- The cost of a Medicare equivalent plan in 2022 would be 35% of the median 65-year-old’s income, and by 2050 would be 68%.
- For 85-year olds in 2050, the cost of a Medicare equivalent policy would be 200% of median income.
- This additional cost would be $4,380 per beneficiary in 2022, $5,530 in 2030, and $9,630 in 2050.
- The health care industry would enjoy a windfall. The excess cost if all were to buy Medicare equivalent policies would be $213 billion by 2030, $1.2 trillion by 2050, and would exceed $3.2 trillion a year by 2080.
- Click here to read the CEPR report, titled, “The Ryan Medicare Plan: Winners and Losers.”
Are you a senior? Do you have parents or grandparents with Medicare? Are you a younger person who is planning on living to a ripe old age? If so – now is the time to speak up!
Families USA is making it easy for you to send a message to Rep. Ryan, John Boehner, and Eric Cantor and tell them what you really think about this budget plan. Simply click below to send a standardized letter in defense of America’s seniors and in opposition to the House budget resolution. Or, take a moment and personalize it with your own words. The choice is yours!