Opinion: A way out of the Medicare maze

[Geee]

The Hill:

Medicare and how we pay for it has been the most vexing issue to confront President Obama and Congress as they struggle (or in some cases saunter) toward trying to put our financial house in order.

Social Security has only a few moving parts that need to be fixed to give it long-term effectiveness and affordability. But fixing Medicare so it is sustainable and does not bankrupt the country, yet still gives quality healthcare to our seniors, involves addressing a complex and constantly changing matrix.

 

Until recently, no one has really come up with good ideas. Most suggested solutions are either unacceptably draconian relative to their impact on doctors and hospitals (such as punitive provider cuts) or politically radioactive (such as premium support).

At the same time, it is obvious to all that without controlling the rate of growth of Medicare costs there simply is no way to address the ever-expanding federal debt. Medicare alone is estimated to have somewhere between $50 trillion and $60 trillion of unfunded liability.

This is a cost that our children and their children will have to bear. If it is not stabilized in a significant way, it will inevitably lead to a federal fiscal crisis and a reduction in standards of living.