Here’s a little more information on cuts to health care, and how it will impact Medicare and potentially drive the medical travel industry.
According to a recent article from CNN, Democrats have spent a lot of time criticizing Republicans for supporting a Medicare reform plan from House Budget Chairman Paul Ryan. They denounce it as “destroying Medicare as we know it.”
Among other things, Ryan’s plan would raise the age of eligibility for Medicare and convert the fee-for-service health care program into a “premium-support” system for everyone under 55 today. Seniors would choose from a Medicare-approved list of private insurance plans and the cost of their chosen plan would be subsidized in part by the federal government.
The Congressional Budget Office said seniors would pay more for their health care than they do under the current system and they would assume greater financial risk “if the volume, complexity and costs of medical services turned out to be greater than expected.”
Some of the ideas that have been proposed in the past for reforming Medicare — which threatens to eat up ever larger pieces of the federal budget — have included increased cost-sharing for beneficiaries and higher premiums, at least for wealthier seniors.
So if any of those ideas are included in a debt deal, that will be a politically tough vote for Democrats since such measures would require future retirees to pay more, even if not as much as under Ryan’s plan.
How would these changes impact the medical tourism — would they prove to be a driving force? Leave any comments here!