Seniors: Brace Yourselves, Medicare Cuts are Coming

President Obama Promised Economic Benefits as a Result of His Healthcare Overhaul:

“President Barack Obama used his weekly radio address to tout the economic benefits of overhauling the health care system, saying that reform would help build a ‘new foundation for our economy to create the good, lasting jobs and shared prosperity of tomorrow.’” (Nia-Malika Henderson, “Obama: Health bill will create jobs,” Politico, 1/9/2010)

RED ALERT: Medicare Cuts Will Lead Hospitals to Insolvency and to Higher Healthcare Costs for Senior Citizens:

“But the new law is unlikely to deliver on a second key goal: restraining the surge in health-care costs. And that is likely to get even worse because Medicare cuts included in the new law appear to be unrealistic, according to the report, issued last week by the U.S. Health and Human Services Department. The new law may hit older Americans particularly hard. The report says the Medicare cuts, if enacted as planned, would put about 15 percent of hospitals and other institutional providers on a path to insolvency. Senior citizens, in particular, could lose access to health care as a result. In addition, about half the retirees now enrolled in Medicare Advantage would be pushed out of such plans, forcing them to rely on traditional Medicare while incurring higher out-of-pocket expenses…The federal report is especially bad news for three members of Indiana's congressional delegation -- Reps. Joe Donnelly, Brad Ellsworth and Baron Hill, each of whom is locked in a tough election fight this year…And the reality is that the new law is almost certain to cost Americans more money and push the nation deeper into debt.” (“Health-care bill will cause long-term headaches,” Indianapolis Star, 4/29/2010)