Presidential Election and Medicare changes

November 6, 2012, will be a gigantic night for the fate of Medicare. President Obama wants to make some extreme Medicare changes and Governor Mitt Romney wants to make some drastic changes as well. Which plan looks better for the future of Medicare?

Obama - Medicare Changes

As of right now, I can say that Obama's plan slashes Medicare Advantage spending but does not touch the Medicare Supplement market. However, there is a Kerry/Stark law that has been put forth to regulate Medicare Supplement plans. Even though the Medigap changes have not been put into place yet it is definitely something to keep your eyes open on.

Mitt Romeny - Medicare Changes

Mitt Romney's plan will not affect those 55 years or older who will stay with the same Medicare system we currently have. However, for those 54 and younger there will be some drastic cuts to the Medicare system and there should be because the current system is not sustainable.

Stay Tune

Tonight we will learn which path the country will begin to head down for Medicare reform. It appears that the state of Ohio will be the state which has the most pull on which way the country votes. Florida and other states are still neck and neck but we will keep you posted on what the Medicare changes mean for you.