Keeping Medicare Safe and Secure
After decades of overspending, Congress is finally taking sensible and responsible steps to strengthen and protect Medicare.
Since Medicare first became law in 1965, it has continually expanded, adding new benefits and beneficiaries. From 20 million covered in 1970, it has grown to provide coverage to 46 million people today. The average couple who are Medicare retirees pay about $114,000 into Medicare over their working lifetimes. They will receive about $355,000 in Medicare health benefits during their retirement (Associated Press, December 2010). Here are questions and answers about the federal budget and the recent proposals to put Medicare on a firm financial footing for generations to come.
Republicans and Democrats agree we cannot continue to spend more money than we bring in. Medicare, Medicaid and Social Security are the biggest parts of the federal government. We must protect these vital programs.
The budget cut spending in next year’s budget and laid out a plan to reduce the federal deficit over ten years. Here are some of the changes:
• Reduce the number of federal employees by ten percent over time and freeze the wages of federal employees for five years.
No. According to the non-partisan Congressional Budget Office, Medicare will go bankrupt unless we do something to save it. This budget saves Medicare. Under the budget I supported seniors would not need to change their Medicare coverage. Medicare would offer a wider choice of plans, but all seniors would be free to keep their traditional Medicare coverage.
There are a number of cost-saving strategies in the law. It stops the $500 billion raid on Medicare from the President’s health care law. Under the new budget, any Medicare savings must go to saving Medicare, not financing the creation of new open-ended health-care entitlements.
The law also stops frivolous lawsuits that drive up the cost of medical care and fixes the Medicare physician payment formula for the next ten years so that Medicare beneficiaries continue to have access to quality health care.
No. It targets small businesses with tax incentives to create new jobs. Small businesses create most of the new jobs in America and should not be penalized with higher taxes. It also closes tax loopholes for big corporations. Everyone should pay their fair share.
No. In fact, it repeals the proposal to ration health care for seniors that was built into the 2010 health care law. Under the massive health care law, an unelected board of “experts” have been told to squeeze savings out of Medicare through formulaic rationing, restricting certain treatments, with no regard to measures of quality or patient satisfaction. The bill I supported would eliminate the rationing board.
To become law, the budget must be agreed upon by the Senate and the President, as well as the House. No doubt there will be changes made. But at last we have a chance to make Medicare safe and secure for another generation. Overspending is a huge drain on our nation’s economic health and tremendously difficult for officials to resist, since the consequences don’t show up for decades. But now Congress must act responsibly. The federal government promised the American people that we would provide seniors with health care and retirement income and we’re going to keep those promises with fiscal discipline and integrity.