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Mitt Romney Is in a Tiny Minority Turning Down Medicare

If the presidential candidate changes his mind, he could get socked with a hefty penalty

By Richard Eisenberg

 

 

Beyond that, 95 percent of Americans over 65 enroll in and pay for Medicare Part B, which covers doctor visits and outpatient care, according to the Kaiser Family Foundation. The standard monthly premium for Medicare Part B in 2012 is $99.90.

 

 

 

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Under his plan, the Medicare age would gradually go up by one month a year, topping out at age 67. Romney would also index the eligibility age for Medicare (and Social Security) to Americans’ longevity.

 

In addition, Romney has said that he thinks wealthier Americans should pay more for their Medicare benefits “so lower-income seniors would receive the most generous benefits.” And he has proposed offering “premium support” — money that you could use to pay either for Medicare or for private insurance.

 

 

According to The Wall Street Journal, Newt Gingrich has a Medicare Advantage plan, run by Blue Cross Blue Shield. And Ron Paul has a Blue Cross Blue Shield employee health plan through the federal government. Rick Santorum, 53, and Barack Obama, 50, are too young to be faced with the decision.

Photograph of Richard Eisenberg
Richard Eisenberg is the former Senior Web Editor of the Money & Security and Work & Purpose channels of Next Avenue and former Managing Editor for the site. He is the author of "How to Avoid a Mid-Life Financial Crisis" and has been a personal finance editor at Money, Yahoo, Good Housekeeping, and CBS MoneyWatch. Read More
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