Burr’s bill to privatize Medicare would raise costs for seniors while letting making insurance company backers big bucks
The DSCC released its first ad in North Carolina today highlighting Senator Richard Burr’s record of looking out for insurance companies at the expense of hard-working North Carolinians. Burr’s taken more than $1 million from the insurance industry, and in return he wrote a plan to privatize Medicare that would make private insurers tens of billions of dollars. While Burr’s plan would put money in the pockets of the insurance industry that supports him, it would raise Medicare rates for North Carolina seniors by 9%.
The ad, “Look Up” can be viewed HERE.
“Senator Richard Burr wasn’t content just to vote for a plan that privatized Medicare, he actually took it upon himself to write his own plan that would benefit the insurance companies that bankroll his campaign while increasing costs for seniors,” said Sadie Weiner, DSCC Communications Director. “Under Richard Burr’s plan, insurance companies get rich, Burr gets campaign cash, and North Carolina seniors are left with higher Medicare costs. North Carolina deserves a Senator who will focus on protecting Medicare, not dismantling it.”
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V/O: Look up the facts on Richard Burr.
GFX: Look Up The Facts
V/O: The insurance industry gave Richard Burr’s campaigns one-point-one million dollars. That’s public record.
GFX: Insurance Industry Gave Richard Burr’s Campaigns $1.1 Million -Center for Responsive Politics
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BURR HAS TAKEN OVER $1.1 MILLION FROM THE INSURANCE INDUSTRY DURING HIS CAREER
Burr Has Received $1.1 Million From Insurance Interests. Over the course of his political career Burr has received a total of $1,172,299 from insurance industry interests. [Center for Responsive Politics, Accessed 9/14/16]
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SPOKESPERSON: And Richard Burr wrote a plan to privatize Medicare.
GFX: Richard Burr Wrote Plan To Privatize Medicare -AP, 2/16/12
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BURR INTRODUCED A PLAN TO PRIVATIZE MEDICARE, WHICH WAS DERIDED AS THE RYAN PLAN “ON STEROIDS”
2012: Associated Press: Burr Unveiled His Own Medicare Privatization Plan, Which Would “Start The Transition To A System Dominated By Private Insurance Plans” Faster Than The Ryan Plan. “Two Republican senators unveiled a Medicare overhaul Thursday that features an accelerated transition to private health insurance for many seniors, a gradual increase in the eligibility age, and higher premiums for middle-class and upper-income retirees. […] Like Ryan, Coburn and Burr would gradually raise the eligibility age to 67. But their plan also differs in several important ways. It would start the transition to a system dominated by private insurance plans in 2016 instead of waiting a decade, as Ryan has proposed. Private plans would compete with a government-sponsored program, a retooled version of today’s Medicare. Seniors would get a fixed amount from the government which they could apply toward a private plan or the government plan modeled on Medicare. Benefits would not be spelled out, but all plans would have to meet a test of basic insurance value.” [Associated Press, 2/16/12]
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V/O: New profits for private insurers would be as high as sixteen to twenty-six billion.
GFX: $16 to $26 billion. Richard Burr “new profits for private insurers would be as high as $16 to $26 billion” -New Republic, 9/8/12
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MEDICARE PRIVATIZATION WOULD MEAN UP TO $26 BILLION IN ADDITIONAL PROFIT FOR THE INSURANCE INDUSTRY
Analysis: Under Ryan Budget Medicare Privatization, “By 2030, New Profits For Private Insurers Would Be As High As $16 To $26 Billion.” “Via e-mail, Cutler told me it’s possible to estimate, roughly, how much the insurers would benefit from this change: ‘According to the CBO, people aged 65 in 2023 (the first year of the voucher) are expected to account for 4 percent of the $1.23 trillion in Medicare spending anticipated in that year. Not all of this revenue would be newly available to private plans; some of these expenditures currently flow through private Part D plans, some of the voucher recipients would have voluntarily chosen to enroll in a Medicare Advantage plan anyway, and some would not do so in any case. After making adjustments for the Part D spending and those who would have been in MA already, an estimated $31 billion in Medicare funds would be newly available to private plans in 2023. The GAO has estimated that insurers earn profits of between 4.1% and 6.6% on revenue. Thus, the newly available private insurer revenues would generate private profits of $1.3-$2.1 billion in 2023. These profits would quickly mount. By 2030, new profits for private insurers would be as high as $16 to $26 billion.’” [New Republic, 9/8/12]
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V/O: But seniors would pay nine percent more for Medicare.
GFX: Richard Burr Seniors Pay 9 Percent More For Medicare -Winston Salem Journal, 2/18/12
V/O: Richard Burr is looking out for himself and the insurance industry, not you.
GFX: Richard Burr Looking Out For Himself And The Insurance Industry |
BURR MEDICARE PRIVATIZATION PLAN WOULD INCREASE PREMIUMS BY 9 PERCENT
Raleigh News & Observer: Burr Medicare Privatization Plan Contained A “9 Percent Increase” In Medicare Premiums. “Republican U.S. Sens. Richard Burr of Winston-Salem and Tom Coburn on Thursday unveiled their plan for changing Medicare, the government-run health-care program for seniors. The plan would offer seniors, starting in 2016, the choice to stick with the government-run fee for-service program, or choose health insurance policies offered by private companies that would bid for the right to participate in the Medicare program. According to Burr, the Seniors’ Choice Act also would: Provide a maximum out-of-pocket protection so that a senior would not have to pay more than $7,500 per year in medical expenses. Gradually raise the age of eligibility for participating in Medicare by two months for each year until age 67, starting with people born in 1949. Gradually increase the premiums on Medicare by an average of 3 percent each year beginning in 2013 so that a 9 percent increase is accomplished by 2016.” [Winston Salem Journal, 2/18/12]
Kaiser Family Foundation: Burr Medicare Privatization Plan Contained A “9 Percent Increase” In Medicare Premiums. “Burr-Coburn ‘Seniors’ Choice Act’ February 16, 2012 Part B premiums would be increased by 3 percent of Part A and B program costs each year, beginning in 2013, to achieve a 9 percent increase prior to implementation of premium support in 2016. Beneficiaries would pay the difference between the defined federal contribution and the bid for the plan in which they chose to enroll. Unclear how the Part B and Part D formulas would be calculated or applied beginning in 2016.” [Kaiser Family Foundation, 7/26/12]
Burr Medicare Plan Would Raise Standard Medicare Part B Premiums By 9 Percent, Up To Roughly $240 Annually. “Burr–Coburn would raise the standard Medicare Part B premiums from 25 percent to 34 percent of total premium costs over three years. The Senators say that the impact would be on the order of roughly $15 to $20 per month.” [Heritage Foundation, 4/4/12]
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V/O: DSCC is responsible for the content of this advertising.
GFX: PAID FOR BY DSCC, WWW.DSCC.ORG, AND NOT AUTHORIZED BY ANY CANDIDATE OR CANDIDATE’S COMMITTEE. DSCC IS RESPONSIBLE FOR THE CONTENT OF THIS ADVERTISING.
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