Republican presidential nominee Mitt Romney is not only offering policy change, but “a dramatic change in perspective and philosophy.” Under his proposal, the government would offer a fixed amount of money for each Medicare beneficiary, and future beneficiaries can use the money to go with a private insurer or contribute toward Medicare. But if it costs the government more to provide Medicare “than it costs private plans to offer their versions, then the premiums charged by the government will have to be higher, and seniors will have to pay the difference to enroll in the traditional Medicare option.” Romney will not handle Medicare’s financial problems with tax increases, but would gradually increase the eligibility age for Medicare by one month a year.

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