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Medicare Blog | Medicare News | Medicare Information

Obama vs. Romney: Key differences in Medicare/Medicaid

Posted by Lauren Hidalgo on Fri, Nov 02, 2012 @ 12:47 PM

Medicare Supplements As the Presidential race draws to a close most people have chosen which candidate they are going to support next Tuesday in the election. One of the main topics this election season has been health care, with Medicare being a heated topic. The candidates differ from how much the government should be involved, to where the funding should come from, and in the case of Medicare, at what age beneficiaries should become eligible.

Here are a few key differences to consider about the future of Medicare and Medicaid based on each of the candidates’ platforms.

  1. Medicare
    1. Obama: Says that PPACA (Patient Protection and Affordable Care Act) has already made important changes for Medicare. Things like requiring basic Medicare to include basic preventive services to patients and reducing the size of the Medicare Part D doughnut hole. With his plan, the Medicare system would be structured the same way and begin at the same age that it does currently.

    2. Romney: For retirees and near retirees, Medicare will be the same. However, in the future seniors will receive vouchers and have insurance options that provide coverage as least as good as today’s Medicare, with traditional Medicare as one of the options to choose from. Romney says, “Competition among plans to provide high quality service while charging low premiums will hold costs down while also improving the quality of coverage enjoyed by seniors.”

  2. Medicaid
    1. Obama: Under his plan, Medicaid would work the same way it does currently.

    2. Romney: Says that he would replace the current funding for Medicaid with a “block grant” program providing every state with a set amount of funding that it could use as it wished. He says he would “limit federal standards and requirements.”

With only a few days left, most of us are excited and anxious to see what the outcome will be. For sports fans, that result might come a little bit sooner. Since the 1984 election, the winner of the Alabama-LSU game has coincided with the party who has won the election. With Alabama’s wins aligned with the Democratic Party and LSU with the Republican. Obviously, statistics are made to be broken, but it still adds another element of intensity to the SEC game this weekend and gives friends and family something to speculate about.

Hopefully you are having a productive and prosperous AEP so far. Remember that your marketer at PSM is available to answer any questions that arise and help you with any issues you encounter. Just give them a call at 1-800-998-7715.


Please give us your feedback!
Which candidate do you think has the better plan for Medicare? Do you think a voucher system is a good idea? If not, why? Do you think a state-controled program would better regulate the system? If not, what would?

(We realize this is a polarizing topic, please remember to be respectful of other commenters. Thank you.)

 

Source: LifeHealthPro

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