Romney applauds Ron Wyden and Paul Ryan plan for Medicare

Republican presidential candidates from left, former Pennsylvania Sen. Rick Santorum, Texas Gov. Rick Perry, former Massachusetts Gov. Mitt Romney, former House Speaker Newt Gingrich, Rep. Ron Paul, R-Texas, Rep. Michele Bachmann, R-Minn., and former Utah Gov. Jon Huntsman participate in a Republican presidential debate in Sioux City, Iowa, Thursday, Dec. 15, 2011.

/ Pool,AP Photo/Eric Gay

Republican presidential candidate Mitt Romney on Thursday applauded a new bipartisan plan to overhaul Medicare, hours after the White House slammed it as "radical."

During a Republican presidential debate in Sioux City, Iowa, the former Massachusetts governor called the proposal, which resembles a proposal Romney had earlier made, the result of politicians in both parties caring about "America in a critical time."

Republican Rep. Paul Ryan of Wisconsin and Democratic Sen. Ron Wyden of Oregon put forth the proposal that would provide seniors a subsidy called "premium support" that would give them the option to receive traditional Medicare- a government-run health insurance -or the option to buy private insurance. The plan would go into effect in 2022 and the Medicare eligibility age would remain at 65.

The White House slammed the plan today saying it would "end Medicare as we know it for millions of seniors."

Romney called the Wyden-Ryan plan "good news," and said it was a "big day for our kids and grandkids" because the plan could deal with the country's mounting debt, which has the "potential of crushing our future generations."

White House Press Secretary Jay Carney said today that the Obama administration is concerned the new proposal "would undermine, rather than strengthen, Medicare."

Earlier in the year, Ryan introduced a more conservative idea that would have entirely phased out government-run Medicare in favor of providing "premium support" vouchers for private insurance. Democrats rebuffed that plan with the same rebuke, that "it would end Medicare as we know it."

Romney said he hopes people grasp just "how big today is for our country."

More from the debate:

GOP candidates: Oust Holder for Fast and Furious
Newt Gingrich hammered for Freddie Mac ties
Rick Perry hopes to be the Tim Tebow of Iowa caucuses
Gingrich, Paul challenge electability questions

[JillyforLiberty]

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[sandy 1027]

There are a lot of questions about how something like this could even be implemented, and the effect that it would have on Medicare's survival if a lot of people were to opt out of the system; although it may be difficult anyway because the insurance premiums to cover the elderly could be unaffordable for most.I think that some real analysis should be done before anyone signs on to this idea.

[longtree-2009]

don't know how this reform will play out. grandfather pays a huge amount for medicare which is automatically deducted from his ss monthly allotment. he then pays for side medical insurance for seniors. for being on a very limited income, grandfather pays a huge amount in monthly premiums for medical care. he says it is more than he paid while working at anytime during his working years. if paying for own insurance vs. medicare premium is cheaper perhaps seniors will opt out of medicare. doubt private insurance would be cheaper and if it is doubt it would be permanently cheaper. time will tell.

[marychgo]

I'm simply sad that Ron Wyden, who used to be a fairly reliable Democrat, has swallowed the GOP Koolaid on the benefits of "competition."

During the years I spent designing and selling healthcare plans, friends and I came up with a simple explanation of healthcare "market" dynamics. Most everybody is willing to wait in line and work with any competent practitioner when what they're dealing with is a broken ankle or the flu. When when we're diagnosed with cancer or serious heart disease or anything else that might KILL us, all of us want the best doctors and the best hospitals on the face of the earth.

"Competition" does absolutely nothing to deal with those market dynamics. Instead, it guarantees that ten or fifteen or twenty cents out of every dollar we spend on healthcare will go to pay for insurance company administration and insurance company profits. And in addition, it eliminate Medicare's bargaining power in negotiating how much it will pay providers and BIG PHARMA.

"Competition" doesn't reduce healthcare costs: never has, never will. Wyden-Ryan is simply another attack on current Medicare....

[hg2008-2009]

If you have pre-existing medical conditions, private insurance will cost a fortune. So the voucher would not be as good as Medicare.

[venusvegasvada]

Well so much for voting for Romney (or ANYONE else that wants to throw us under the bus) screw us over on medicare/medicaid/social security.

[eqreynolds]

As long as health care insurance companies are designed for the creation of profit, any payments by government to them for services formerly funded by the government, are, by definition, a sad waste of taxpayer money.

[dzaffina]

just read in another article,the highest paid ceo, 145 million, and 3 out of the top ten are ceo's of private health ins.

[TeaParty4RonPaul]

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[dzaffina]

i wouldn't donate a penny to anything the tealiban is for. i kinda liked ron paul until i read your comment.

[daberlee]

Ron Wyden wishes to retire soon?

[dzaffina]

he will be unemployed with the republicons.