Senator Rand Paul (R-KY) has a simple idea to fix Medicare, and it involves offering all seniors the best health care system in America while saving taxpayer’s money.
According to Sen. Paul, his Congressional Health Care for Seniors Act would have Members of Congress and seniors sharing the same health plan, which would save $1 trillion over the first 10 years, amounting to a major cut of Medicare’s $43 trillion unfunded liability.
The bill, Sen. Paul says, “fixes the Medicare system, and gives seniors access to the best health care plans enjoyed currently by Members of Congress and does so without breaking the bank.”
Seniors would have access to a marketplace of various insurance plans that cannot deny coverage to anyone for any reason. While the government still pitches in with about three-quarters of the total costs, the open market makes it fairly less complicated for the senior to find a more inexpensive option, since companies will have to compete to meet the needs of growing numbers of customers. The Congressional Health Care for Seniors Act assures that there’s a gradual raise in the Medicare retirement age, which would go from 65 to 70 over a generation, leading to a major cut in overall costs.
Sen. Paul is confident that with his plan, the Medicare system will get the reform needed to become a more sustainable program without having to cut benefits or force a government rationing. Every citizen would be eligible to enjoy the same plan members of Congress enjoy without bankrupting the country since the new plan would be less expensive than the current Medicare system, which is now run by government bureaucrats.