Economics, Health Care

No, Paul Ryan’s new budget does not end Medicare

Contrary to claims from opponents, the budget plan released today by House Budget Chairman Paul Ryan does not spell the end of Medicare. The plan lowers Medicare spending by $210 billion over the next decade—a modest reduction for a $6.6 trillion program. That sets the stage for the shift to premium support, which gives seniors a choice of competing health plans including traditional Medicare. A recent AEI study shows that competition could reduce federal spending by another 4.2 percent a year while maintaining basic benefits and without raising taxes—and without exposing the elderly to the risk of higher health care costs.

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