The guest editorial by the Mining Journal titled "Will Seniors Be Winners Under Health Care Law?" reads like a political advertisement.
The intent is to mislead people into believing that there will be a $500 billion dollar cut in Medicare benefits. In fact there will be no changes to the benefits provided by Medicare. The $500 billion dollar figure refers to reductions in the rate of spending growth over a 10 year period. Medicare spending will still increase. The CBO projects Medicare spending will reach $929 billion in 2020, up from $499 billion in actual spending in 2009.
To realize the $500 billion dollar savings the Affordable Care Act (ACA) reduces payments to health care providers, (not Medicare beneficiaries), trims massive overpayments to private insurance companies, such as Medicare Advantage, which costs the government 20 percent more than benefits under traditional Medicare, and renegotiates payment rates to hospitals, drug companies and other providers.
Virtually every one of these changes are included in the GOP/Paul Ryan budget, which all but 10 House Republicans voted for this past March.
According to the CBO and the Medicare actuaries, the 10 year savings will add eight years to the solvency of the Medicare program.