A new study on the Romney-Ryan Medicare plan from Harvard economist David Cutler underscores just how costly their plan would be for both current and future seniors. Here's why:
- Increased drug costs and higher Medicare premiums for current Seniors. By repealing the Affordable Care Act, which would reopen the Medicare prescription drug hole, increase cost sharing and premiums, and eliminate free-preventive services, the Romney-Ryan plan would raise health care costs for the average senior in Medicare by $11,000.
- Costs for tomorrow’s seniors skyrocket. Because of cost-shifting and increases in system-wide health care costs, Medicare costs for future seniors will increase dramatically under Romney and Ryan.
o Today’s 54 year old will have to pay increased Medicare costs of $59,450
o The 49 year old will have to pay $124,626 more
o A 39 year old will pay $216,631 more than the current Medicare guarantee
o And, today’s 29 year old will have to save $331,170 more to afford their health care
You can read the full report here:
ThinkProgress explainer:
And handy infrographic:
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