The new Retirement Freedom Act, which was recently introduced by 13 Republican Senators, will give seniors choice to opt out of Medicare without losing their Social Security checks.
"These two programs have been unnecessarily tied together by unaccountable bureaucrats without the consent of the people or their elected officials," said South Carolina Senator Jim DeMint. "Today, if a senior can afford private insurance and chooses to not accept Medicare, they are forced to give up their Social Security benefits. This is not right and it must change."
According to the Huffington Post, the GOP plan is the eventually end Medicare entirely. This will result in negative outcomes such as an additional burden on the senior's translating to a 65-year-old paying $6,000 more a year for health care in 2022.
The higher healthcare costs become, the more of a burden is put onto the baby boomer generation and even younger. However, home care, assisted living facilities and nursing homes can offer solutions for many families.