Two Republican Senators Release New Medicare Overhaul Plan

U.S. Sens. Tom Coburn (R-Okla.) and Richard Burr (R-N.C.) unveiled a new Medicare overhaul proposal that would raise the Medicare eligibility age and provide a quicker transition to Medicare Advantage plans, according to a Forbes report.

Other parts of the plan include raising premiums for high-income Medicare beneficiaries, reworking co-pays that would put more financial responsibility on routine medical bills and limiting the use of private supplemental insurance, according to the report. Additionally, the transition to mostly privatized Medicare would be in place by 2016.

Sen. Ron Wyden (D-Ore.) and Rep. Paul Ryan (R-Wis.) released a Medicare proposal this past December that had some of the elements of this most recent plan, although no action was taken on it. The Coburn-Burr plan, which has not been reviewed by the Congressional Budget Office, is not expected to make much headway in Congress during this election year.

The entire plan can be viewed here (pdf).

Related Articles on Medicare Overhauls:

Sen. Ron Wyden, Rep. Paul Ryan Introduce New Plan for Medicare

White House: New Wyden-Ryan Plan Would "Undermine" Medicare

House Speaker 'Not Wedded' to Medicare Overhaul

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