Accordingly to the CBO estimates, the program would result in seniors paying twice as much for their care – a sum that would total more than $12,510 a year. Here’s how the CBO sees it going –
The GOP proposal, which would begin in 2022, involves providing a ‘voucher’ – or as Ryan likes to call it, ‘premium support’ – to seniors to help pay for their health insurance. The average American would receive a check for $8,000, representing roughly what the CBO estimates Medicare would have to fork out for the average beneficiary in 2022. In addition to the government’s costs, the CBO estimates that seniors, in 2022, would lay out about $6,150.00 in out-of-pocket costs in the Medicare system. That totals an average cost of health care for participating seniors, in 2022, to be $14,770.
Under the GOP privatization plan, the cost to purchase the health insurance policy would cost about $20,520 per year – leaving the seniors out of pocket in the amount of $12,510 or more than twice what they would pay in 2022 should the Medicare system we currently have continue.
And we’re not done yet.
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