Medicare for Beginners
James Kwak, The Baseline Scenario: "This isn't a post explaining how Medicare works in detail. It's a post about why Medicare matters to you. The basic 'problem' with Medicare is that its liabilities are projected to grow faster than its revenues indefinitely because health care costs are growing faster than GDP (and Medicare's revenues are a function of wages). The 'solution' proposed by Paul Ryan is to convert Medicare from an insurance program, which pays most of your health care expenses, to a voucher program, which gives you a certain amount of money that you can try to use to buy health insurance."
Read the Article