First, with regards to seniors, those are people who are today 55 years of age and older, today's seniors if you will. My plan presents no change. The plan stays the same. No adjustments, no changes, no savings.
The President's plan cuts Medicare, by $716 billion, cut. In addition, the trustees of Medicare estimate that approximately 4 million people will lose their coverage under Medicare Advantage.
This is the plan they've chosen that shows they prefer some 4 million current seniors will lose their Medicare Advantage plan. And finally, the Medicare actuary estimates that 15 percent of hospitals and nursing homes will stop taking Medicare patients. So this is the President's plan: $716 billion cut, 4 million people losing Medicare Advantage and 15 percent of hospitals and nursing homes not accepting Medicare patients.
The President's plan has a dramatic impact on today's seniors, people 55 years of age and older. Now, there's another topic which I will call it the next generation, the generation after today's seniors, generations after today's seniors. And under the President's plan, this goes bankrupt.
The Medicare trustees have notified the President that the plan will go bankrupt, Medicare Part A, in approximately 12 years. Under the plan that I've proposed, it is solvent.
So the differences in our Medicare prospective could not be more stark and dramatic. And I think as the seniors in America understand what the President's plan is doing to Medicare, they're going to find it unacceptable and we're going to get a lot of support from people who understand that Medicare should be protected for current seniors as well as for the next generation."