1. It will save Medicare (and thus the U.S. government) from bankruptcy.
The current Medicare system is in drastic need of reform. It is the second largest federal program and the fastest growing with long-term liabilities in excess of $38 trillion. Medicare spending is expected to double over the next decade. Doing nothing to fix Medicare will ultimately result in bankruptcy, rationing and benefit cuts. The plan offered by Rep. Paul Ryan (R-Wisconsin) will help to ensure Medicare solvency for current retirees and future generations without rationing or benefit cuts. Unfortunately, President Obama and congressional Democrats vehemently oppose the Ryan plan, yet they have failed to offer a plan of their own to save Medicare. In effect, their plan is to let Medicare “die on the vine.” Rep. Ryan’s plan would save Medicare.

2. It will allow patients to choose their Medicare plan.
The Ryan plan transforms Medicare from a misguided “one-size-fits-all” program into a consumer choice system. The plan empowers seniors to choose the coverage that best meets their individual needs from a list of competing health plans. These health plans are privately run but regulated by the government to ensure seniors get what they’re promised. The consumer choice model is a proven success, working well for patients and taxpayers alike. Two well-known and highly popular examples of a consumer choice model are the Medicare Advantage program (currently chosen by 25 percent of Medicare seniors) and the Federal Employees Health Benefit Program (the health plan enjoyed by Members of Congress and federal workers).

3. It will introduce competition in Medicare.
Increased competition will improve the quality of health care. Many seniors are dissatisfied with their “one-size-fits-all” Medicare. The Ryan plan will force health care plans to compete with each other, which in turn will incentivize health coverage providers to serve their consumers better than their competition. The result will be better quality health care benefits at a lower cost.

Want to know the rest? Check out the full report (.pdf)