WASHINGTON (AP) — Mitt Romney's Medicare plan won't try to control costs by limiting the payments that future retirees would use to buy private health insurance, aides say, adding detail to a proposal from the GOP presidential nominee that has both intrigued and confused many Americans.
Reining in costs is vital to keeping Medicare affordable, and in their plans both President Barack Obama and Romney's running mate, Paul Ryan, set limits on the growth of future spending.
Independent experts say they doubt that Romney's Medicare plan can succeed without some kind of hard spending limit; Romney campaign officials say the savings will come through competition among health insurance plans.
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