Hey, Grandma! Did you know that Obamacare is siphoning away $716 billion from Medicare? Oh that might have escaped your notice.
What's more this three-quarter trillion dollar fund shift is going to be orchestrated by an unelected rationing committee called IPAB:
While Obama has shown appallingly little seriousness in dealing with our runaway deficit spending or the runaway entitlement spending that drives it, he does have his own plan to reduce Medicare costs. It relies upon the Independent Payment Advisory Board (IPAB), a creation of Obamacare.What does the chief accountant at Medicare say about this?
The IPAB is a board of 15 unelected and largely unaccountable bureaucrats who would be empowered to cut payments to Medicare providers. In Ryan’s own words, “Obamacare … puts a new rationing board in charge of Medicare next year to start price-controlling Medicare to deny access to current seniors.”
Under Obamacare and the IPAB — according to the Medicare chief actuary — Medicare providers would be paid less than Medicaid providers by the end of this decade. Good luck getting in to see medical professionals when they wouldn’t even get paid as much to see you as they’d get paid for seeing Medicaid patients.By all means let's keep talking about the one thing Obama never mentions on the campaign trail.
Extra - The Corner: "Obamacare changed everything."
More - The WashPost agrees: "Romney's right: Obamacare cuts Medicare by $716 billion. Here's how." The key takeaway is that they argue that Medicare benefits won't be cut, just reimbursement rates to hospitals who "agreed" to this as part of the Obamacare package to get more customers. (Do hospitals have a unifying body to make these decisions?) But blithely saying "the hospitals will pay" does not change the simple fact that medical access will wither if doctors aren't paid.
Once again, Medicare's chief actuary doesn't buy it either:
Even more important, however, is that Medicare's own fiscal overseer doesn't think that the projections are likely to prove accurate. In the actuary's note at the end of the report, Richard Foster, the program's chief actuary, warns that "the financial projections shown in this report for Medicare do not represent a reasonable expectation for actual program operations in either the short range (as a result of the unsustainable reductions in physician payment rates) or the long range (because of the strong likelihood that the statutory reductions in price updates for most categories of Medicare provider services will not be viable)."You can keep believing "somebody else" will pay but there's no such thing as a free lunch.