It's really not a good idea because there are other alternatives such as means testing and medicare part D reform (ending/reducing patents, government paying only for generic drugs or imported drugs). In addition, contracting out medicare via vouchers for insurance would be more likely to perpetuate it because the insurance companies that accept vouchers won't give up the funds from tax payers.
I've estimated that medicare part D reform, as mentioned above, would save at least 1/2 of the medicare Part D cost. If I'm not mistaken, part D expenditures were $60Bn for FY2012, and they're only going to go up. I don't think that contracting out medicare via vouchers will save much more than $30Bn/year in the long run because once you give an inch of subsidies, it will grow to a mile.
In addition, means testing for medicare could save future generations a lot of money. However, that's not what the R.E. wants to do. Instead of the alternative, they want to waste taxpayers' money by giving everyone the same amount worth of vouchers when they could just cut the wealthy and big pharma off while saving future generations a lot of money. They could eventually phase medicare out for everyone (they would ideally abolish it immediately, but that's not going to happen).
Part of the reason the government shouldn't exist and part of why I hate government so much is because it distorts the market. Governments granting vouchers and contracts distorts the market nearly as much as completely socializing the industries.
I've estimated that medicare part D reform, as mentioned above, would save at least 1/2 of the medicare Part D cost. If I'm not mistaken, part D expenditures were $60Bn for FY2012, and they're only going to go up. I don't think that contracting out medicare via vouchers will save much more than $30Bn/year in the long run because once you give an inch of subsidies, it will grow to a mile.
In addition, means testing for medicare could save future generations a lot of money. However, that's not what the R.E. wants to do. Instead of the alternative, they want to waste taxpayers' money by giving everyone the same amount worth of vouchers when they could just cut the wealthy and big pharma off while saving future generations a lot of money. They could eventually phase medicare out for everyone (they would ideally abolish it immediately, but that's not going to happen).
Part of the reason the government shouldn't exist and part of why I hate government so much is because it distorts the market. Governments granting vouchers and contracts distorts the market nearly as much as completely socializing the industries.