Social Security and Medicare are headed toward 'insolvency': Maya MacGuineas
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, discusses concerns about the future of Social Security and Medicare on 'Special Report.'
In January, President Biden wrote that he wouldn’t "…allow extreme Republicans to hand out massive giveaways… while raising your costs and cutting Social Security, Medicare, and Medicaid." He’s doing exactly that just months later.
Despite warnings from both Republicans and Democrats, the Biden administration’s Center for Medicare and Medicaid Services finalized cuts to the popular and effective Medicare Advantage (MA) program.
MA is a public-private partnership that allows health insurance providers to deliver affordable and comprehensive medical coverage to Americans over 65 and individuals with disabilities. By trimming access to MA, Biden is breaking a core campaign promise to never slash benefits for seniors – something he has regularly repeated for three years.
President Biden discusses his plan to protect and strengthen Social Security and Medicare and lower health care costs at the University of Florida on Feb. 9, 2023, in Tampa. (Paul Hennessy/Anadolu Agency via Getty Images)
The change of heart from Biden will cost seniors an extra $33 per month. Raymond James analyst Chris Meekins told Axios: "President Biden's team is gambling that MA beneficiaries won't realize before the election the benefits Biden's team is causing them to lose come January 2025."
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Republicans should help Biden’s team lose that bet – given the rare popularity of MA, it shouldn’t be a big lift.
Last year, 90% of voters said a candidate’s plan for reducing the cost of health care would be important to them and 39% claimed they would likely cross party lines to vote for a candidate who makes reducing health care costs their top priority.
Meanwhile, a stunning 90% of seniors say they love their plan. More than 31 million Americans are enrolled in MA plans, making up over half of the total Medicare population.
MA outperforms traditional Medicare in 16 out of 16 clinical measures, making it an ideal choice for those who want control over their health care. This massive voting block needs to know that Biden is cutting their affordable, flexible health plans in favor of more expensive, government-controlled outcomes for seniors.
The MA model works, and the American people know it. MA plans provide the same benefits as traditional Medicare for just 83 cents on the dollar, making the program a good deal for taxpayers, too.
MA plans are cheaper, more efficient, and are better suited for millions of Americans than traditional Medicare plans. What’s not to like? Well, anything that promotes private sector innovation over public sector dependence, according to the modern Left in America.
Biden and his allies want to cut MA in favor of more government-run, fee-for-service "Medicare-for-all" – which would mean fewer options for physicians and coverage, like vision and hearing. Recently, progressive ringleader Rep. Pramila Jayapal, D-Wash., and a coalition of 59 far-left House Democrats sent a letter to Biden arguing for "strengthening Traditional Medicare" and redirecting funds "incorrectly going to MA."
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For Americans wondering what increased government control of the health care industry would look like in practice, head to your local DMV, or check out the shameful wait times at VA hospitals. It’s hard to imagine the expansion of federal control over insurance options would lead to anything appealing.
President Barack Obama smiles alongside Vice President Joe Biden before signing the health care insurance reform legislation at the White House on March 23, 2010. (Saul Loeb/AFP via Getty Images)
In 2013, President Barack Obama famously promised, "If you like your insurance, you can keep it," as the former president furiously sold his signature legislation – the Affordable Care Act – to the American people.
However, after the infamously chaotic rollout of the program, costs skyrocketed—and Americans, in fact, could not keep their insurance nor their doctors. Even Left-leaning NPR shared an analysis naming Obama’s claim the "Lie of the Year."
More than a decade later, his vice president, now President Biden, is attempting a similar health care bait-and-switch – this time promising seniors better care while pillorying MA.
Americans should know better this time around.
While Biden and the far Left continue to baselessly accuse conservatives of targeting Social Security, Medicare and Medicaid, this cut to MA is the real threat to American seniors’ health care.
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In true Biden – and Obama – fashion, he’s breaking his promise to the American people while pointing fingers at Republicans.
This November, voters should be wary of promises of health care "reform" from the Left. If you liked your insurance, you couldn’t keep it. If you like your Medicare Advantage, Biden may take it.