What Medicare will look like under Donald Trump
During Trumps campaign promises were made to his supporters the entitlement programs, Medicare, and Social Security would be left alone. Statements by Paul Ryan were made with regards to what will be done with the federal healthcare program. Trumps goals has been to modernize Medicare as stated in his transitional website to help keep up with the baby boomer generation and its challenges as well as beyond. Yet there are conflicts between the 2 ideas of modernization while leaving Medicare alone.
There are specific Medicare provisions Republicans would like to remove including several that are related to Medicare Advantage Plans. Repealing benchmark caps for the quality bonus which are then paid to the Medicare Advantage plans when providing a higher value synchronized care. There is a benchmark set by the government in which Medicare Advantage plans are paid. The Obamacare has capped the benchmark preventing it from being raised above current levels that have been put in place prior to the passage of the statute. It is believed by the GOP that the caps would eliminate any incentives for plans to offer additional competitive products.
There are other changes wanted by some Republicans which would include the combining of Medicare A & B while gradually increasing the retirement age for Medicare from 65 to a Social Security full retirement age. This would give retirees a single deductible as opposed to separate deductibles for physician visits and or hospital stays. This would sync the 2 major federal entitlement programs with regards to when benefits would begin for retirees. While many ideas are controversial; the proposal for transforming Medicare into a premium support model stands out the most. Beginning in 2024 under the GOP proposal it would allow Medicare beneficiaries to choose either private plans or a traditional Medicare plan; whichever best fits his or her health plan needs. To subsidize costs; there would be a premium support payment provided by the federal program to subsidize cost for the selected health plan. Higher support payments would be provided for those who have more serious health problems. Additional assistance would be made for Lower income Americans to help cover out of pocket payments.
Those in favor of this claim this would strengthen Medicare allowing seniors to have more flexibility when choosing health plans and those who oppose this make claims that this would put traditional Medicare in jeopardy.