Side Effects: Obamacare Spreads the Wealth by Cutting Medicare

Kathryn Nix / August 06, 2010

Is Granny “disposable”? Some seniors may get that impression once Obamacare kicks in.

As noted in a recent Wall Street Journal article, the new law cuts $200 billion from Medicare Advantage, a public-private “hybrid” of Medicare.  As a result, more than 11 million seniors will likely see their Medicare Advantage premiums rise significantly or their benefits noticeably lessened.  Either way, it will violate President Obama’s promise that all who liked their current coverage would be able to keep it under Obamacare.

But Obamacare giveth what it taketh away.  And the $200 billion it takes away from the seniors’ program will go to finance new entitlements for younger, healthier Americans. (more…)