Skip to main content

Republican U.S. Presidential candidate Mitt Romney (L) introduces U.S. Congressman Paul Ryan (R-WI) as his vice-presidential running mate during a campaign event at the retired battleship USS Wisconsin in Norfolk, Virginia, August 11, 2012.  REUTERS/Jason
The Romney-Ryan Medicare Fraud is backfiring
The centerpiece of Mitt Romney's Medicare strategy is his claim that President Barack Obama "raided" $716 billion from the Medicare trust fund to pay for Obamacare. But that's not true: the Medicare savings achieved by President Obama actually protect the trust fund, extending its solvency by eight years without impacting the quality of care offered to seniors. And as the New York Times' Jackie Calmes reports, Mitt Romney's pledge to repeal those cuts means he would break another Medicare promise: that he won't touch Medicare for people 55 or older.
The 2010 health care law cut Medicare reimbursements to hospitals and insurers, not benefits for older Americans, by that amount over the coming decade. But repealing the savings, policy analysts say, would hasten the insolvency of Medicare by eight years — to 2016, the final year of the next presidential term, from 2024.

While Republicans have raised legitimate questions about the long-term feasibility of the reimbursement cuts, analysts say, to restore them in the short term would immediately add hundreds of dollars a year to out-of-pocket Medicare expenses for beneficiaries.

How much would those costs go up?
Marilyn Moon, vice president and director of the health program at the American Institutes for Research, calculated that restoring the $716 billion in Medicare savings would increase premiums and co-payments for beneficiaries by $342 a year on average over the next decade; in 2022, the average increase would be $577.
The reason why premiums and co-payments would go up under Romney's plan is common sense: by increasing payments to providers, Romney's plan drains the Medicare trust fund more quickly than the president's plan (which also has the virtue of already being law). That money needs to be made up somehow, so to keep the same level of coverage, Medicare beneficiaries would be on the hook for the difference.

But as obvious as this is, Romneyland professes ignorance:

“The idea that restoring funding to Medicare could somehow hasten its bankruptcy is on its face absurd,” said Andrea Saul, a spokeswoman for the Romney campaign.
As is so often the case with Romneyland, that is exactly wrong: reducing spending on Medicare extends its solvency. To suggest otherwise is on its face absurd.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site