Just listening to the soundbites by the pundits, I brushed aside his proposal as another usual right wing attack on Social Security and Medicare.
But then, I read the proposal, and find it quite reasonable and has a lot of merits, except for #5, which I don't quite understand the ramifications. Here's the link and direct copy of the text:
Chris Christie's SSC and Medicare reform proposal
No change for current recipients.[/B] "The changes I propose today would not affect seniors currently in these programs or seniors approaching retirement. ... Anyone who tells you differently is simply not telling you the truth," Christie said. Raise the Social Security retirement age.[/B] Increase the early retirement age by two months a year from age 62 until it reaches age 64, and raise the full retirement age by two months a year until it reaches age 69. These changes would be implemented gradually starting in 2022.Raise the eligibility age for Medicare.[/B] Make it 67 by 2040 and 69 by 2064.Add means testing to Social Security.[/B] The test would affect those with non-Social Security income of more than $80,000 per year, and phase out Social Security payments entirely for those with $200,000 a year of income from sources other than Social Security.Expand means testing for Medicare Parts B and D.[/B] Seniors with income above $85,000 a year would pay 40 percent of premium costs, increasing to 90 percent for those with income above $196,000 a year.Eliminate payroll taxes for workers age 62 and older.[/B] "Economists estimate that this payroll tax cut for those over 62 would contribute to labor supply growth and therefore GDP growth in the U.S. This growth would offset much of the lost revenues from the tax cut," Christie said, noting that it is counterproductive to ask older workers to continue to pay payroll taxes when it
won't increase their benefits.Reform Social Security Disability.[/B] Increase the number of recent years a worker must have been on the job to qualify, speed up determination decisions, shorten the time before someone with a temporary disability must return to work, and encourage vocational rehab, wage subsidies and preventive care services to keep partially disabled people working.Change how cost of living adjustments, or COLAs, are calculated.[/B] Adopt the chained consumer price index as a basis for COLA adjustments, and give a one-time 5 percent increase in monthly benefits to all beneficiaries when they reach age 85. The chained-CPI, which is a little lower than the inflation measurement currently used, better reflects how people spend money.Standardize Medicare's deductibles.[/B] Adopt a standard annual deductible of $550.Put a cap on Medicaid.[/B] The federal government should send the states a fixed amount per Medicaid enrollee, Christie says, with different inflation-adjusted caps for each category of recipient, including the elderly, disabled, children and non-elderly, non-disabled adults.Better manage the dual-eligible Medicare/Medicaid recipients.[/B] Require them to participate in a managed-care program that limits double dipping.Require co-pays for Medicaid recipients above the poverty level.[/B] Having skin in the game gives recipients motivation to spend less.
This post was edited on 4/17 3:54 PM by meridian
But then, I read the proposal, and find it quite reasonable and has a lot of merits, except for #5, which I don't quite understand the ramifications. Here's the link and direct copy of the text:
Chris Christie's SSC and Medicare reform proposal
No change for current recipients.[/B] "The changes I propose today would not affect seniors currently in these programs or seniors approaching retirement. ... Anyone who tells you differently is simply not telling you the truth," Christie said. Raise the Social Security retirement age.[/B] Increase the early retirement age by two months a year from age 62 until it reaches age 64, and raise the full retirement age by two months a year until it reaches age 69. These changes would be implemented gradually starting in 2022.Raise the eligibility age for Medicare.[/B] Make it 67 by 2040 and 69 by 2064.Add means testing to Social Security.[/B] The test would affect those with non-Social Security income of more than $80,000 per year, and phase out Social Security payments entirely for those with $200,000 a year of income from sources other than Social Security.Expand means testing for Medicare Parts B and D.[/B] Seniors with income above $85,000 a year would pay 40 percent of premium costs, increasing to 90 percent for those with income above $196,000 a year.Eliminate payroll taxes for workers age 62 and older.[/B] "Economists estimate that this payroll tax cut for those over 62 would contribute to labor supply growth and therefore GDP growth in the U.S. This growth would offset much of the lost revenues from the tax cut," Christie said, noting that it is counterproductive to ask older workers to continue to pay payroll taxes when it
won't increase their benefits.Reform Social Security Disability.[/B] Increase the number of recent years a worker must have been on the job to qualify, speed up determination decisions, shorten the time before someone with a temporary disability must return to work, and encourage vocational rehab, wage subsidies and preventive care services to keep partially disabled people working.Change how cost of living adjustments, or COLAs, are calculated.[/B] Adopt the chained consumer price index as a basis for COLA adjustments, and give a one-time 5 percent increase in monthly benefits to all beneficiaries when they reach age 85. The chained-CPI, which is a little lower than the inflation measurement currently used, better reflects how people spend money.Standardize Medicare's deductibles.[/B] Adopt a standard annual deductible of $550.Put a cap on Medicaid.[/B] The federal government should send the states a fixed amount per Medicaid enrollee, Christie says, with different inflation-adjusted caps for each category of recipient, including the elderly, disabled, children and non-elderly, non-disabled adults.Better manage the dual-eligible Medicare/Medicaid recipients.[/B] Require them to participate in a managed-care program that limits double dipping.Require co-pays for Medicaid recipients above the poverty level.[/B] Having skin in the game gives recipients motivation to spend less.
This post was edited on 4/17 3:54 PM by meridian
