The below is fairly descriptive of the plan.......BUT remember, as I understand it, it does not affect those who are in retirement and will have an effective begin date in the future....I offer two quotes from the Bloomberg article..

"Ryan improved his plan in December when he teamed up with Oregon Senator Ron Wyden (proving that even a liberal Democrat can appreciate premium support). Their plan would have offered seniors a subsidy to buy private health insurance, only this time they could choose the traditional Medicare program. Still, benefits would be capped. But Ryan and Wyden would have allowed more generous increases in per-capita Medicare spending of 1 percent above the rate of gross domestic product growth, or about 4 percent if the plan were in place this year.
The 2013 budget that Ryan unveiled Tuesday picks up some important features, including the Medicare option, from the Ryan-Wyden plan. It would create a competitive-bidding process to determine the annual increase in the government voucher, forcing health plans and the Medicare program to compete for patients. The federal subsidy would be based on the second- least-expensive plan in each market. Ryan would means-test Medicare by subsidizing the poor more and the wealthy less. And beginning in 2023, he would increase gradually the Medicare eligibility age until it reaches 67 in 2034.

"Democrats are already hammering Ryan for ending Medicare as we know it. But the CBO estimates that the present system will run out of money in the next nine years. Ryan’s plan may be poor politics, but it’s the right policy."

Paul Ryan


The last sentence is, in my opinion, perhaps a knee jerk reaction and maybe one of those things they have to say at this point, because I understand from some other reading that the plan is getting some bi partisan approval, at least in private and in words.

The biggest issue to me is that it actually may decrease HEALTH COSTS which has always been the thing that had to be done.