The House budget drawn up by Rep. Paul Ryan would end Medicare as we know it. Instead of a defined benefit plan run through Medicare, seniors would receive an $8000 voucher to purchase private health insurance in the open market. This will increase out-of-pocket health care costs for a typical 65 year-old senior by more than $6,000 by 2022. That is more than double the cost under current law.
Over time, out-of-pocket health care costs...read more ››