Ryan budget committee colleague: Ryan plan would kill Medicare

Paul D. Tonko (D-NY), a House Budget Committee member, on Politico:

Even the Wall Street Journal admitted that the Republican plan would kill Medicare.

It would turn over seniors’ health to bureaucrats at profit hungry insurance companies. It would ask seniors to pay more for their health care benefits while receiving less and less. According to the Congressional Budget Office, it would more than double out of pocket expenses.

The Center for Economic and Policy Research suggests that for those under the age of 55, they will have to save an extra $182,000 for retirement to pay for their health care costs if the Republican plan is enacted. For those in their thirties, they will have to save an extra $400,000, on top of regular retirement savings, to pay for health insurance in their golden years.

And to suggest that the Republican budget will offer the same health plan that Members of Congress receive to seniors is simply untrue. As a member of Congress, I know that members of Congress have 72% of health insurance premiums that can be paid for by the federal government. Meanwhile, the Ryan plan would only cover 32% of the costs for seniors. This simply is not the same level of coverage.