Wyden, Ryan Release Bipartisan Medicare Reform Proposal - December 20, 2011

Sen. Ron Wyden (D-OR) and House Budget Committee Chairman Rep. Paul Ryan (R-WI) released a bipartisan proposal to reform the Medicare program on Dec. 15. In their proposal, Wyden and Ryan outline a “coverage support” plan that would allow seniors to enroll in traditional Medicare or in the new private insurance plans that will be offered through the federal health exchange. The amount of support would be adjusted accordingly for poor and sick beneficiaries, as well as for wealthier seniors. Plans that choose to participate would have to offer a minimum of the same benefits as the traditional Medicare program. Wyden and Ryan have noted that their proposal would not only give retirees more options, but would also allow private plans to compete with the Medicare program. They opined that the competition would spark further innovation to lower health care costs while improving quality.