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Paul Ryan, the Republican’s vice presidential candidate has a plan for Medicare.He laid out the specifics months ago when he was known chiefly as the articulate congressman from Wisconsin and, more importantly, the bold chairman of the House Budge Committee. Ryan’s plan for Medicare won’t affect citizens who are 55 years old or older. Many of them would be financially crushed it if did. But Ryan’s plan would change Medicare for the enormous majority currently under 55.
Ryan’s plan is as up front and straight forward as the man himself. He would change the government’s health insurance plan for seniors so that instead of having Medicare pay the medical bills, the government would give the elderly a fixed amount of money to use in buying their own health insurance. In other words, it would do away with Medicare as we know it and substitute a voucher plan. And if the amount of the voucher isn’t enough to pay for the nice peace-of-mind plan you want, you’ll have to pay the difference or take the crummier, less expensive insurance. (more…)