Obama Administration slashes Medicare by $716 million to partially fund Obamacare

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    Feb 26, 2013 2:24 PM GMT
    http://www.forbes.com/sites/aroy/2013/02/19/here-comes-the-boom-cms-slashes-medicare-advantage-disarray-for-many-seniors/

    Though Democrats denied it during the 2012 campaign, Obamacare cut Medicare by $716 billion in order to partially fund $1.9 trillion in new entitlement spending over the next ten years. A big chunk of those Medicare cuts came from the market-oriented Medicare Advantage program. Cleverly, the Obama administration postponed the Medicare Advantage cuts until after the election, so as to persuade seniors that everything would be just fine. But the election is over. On Friday, the administration announced that it would be significantly reducing funding for the popular program. Obama’s proposal, according to one analyst, “would turn almost every plan in the industry unprofitable.”

    Democrats have long been hostile to the Medicare Advantage program, which allows seniors to get their Medicare coverage through plans administered by private insurers. Today, more than a quarter of retirees get their coverage through Medicare Advantage, and the program has experienced rapid growth over the past decade. Richard Foster, the recently-retired chief actuary of the Medicare program, has projected that Obamacare’s cuts to Medicare Advantage would force half of its current enrollees to switch back to the old, 1965-vintage Medicare program. Robert Book and James Capretta estimate that this will cost enrollees an average of $3,714 in 2017 alone.
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    Feb 27, 2013 6:30 PM GMT
    America's best and brightest?

    https://twitter.com/donnabrazile/status/306778350574260224
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    Feb 28, 2013 8:38 PM GMT
    This isn't any more true now then when Mittens lied about it during the campaign. icon_rolleyes.gif
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    Feb 28, 2013 8:51 PM GMT
    Christian73 saidThis isn't any more true now then when Mittens lied about it during the campaign. icon_rolleyes.gif


    Oh how your eyes deceive you icon_rolleyes.gif