How serious are Medicare's problems, and how substantial a change do we need to fix it?

PERSPECTIVE
Put individuals in charge of their own health care
QUESTION
How serious are Medicare's problems, and how substantial a change do we need to fix it?
ANSWER
The current Medicare system, which amounts to a charge card for which individuals don't receive the bill, is fundamentally flawed. What's needed is radical change: replacing Medicare with a system in which individuals have personal medical savings accounts to pay for their own health care in retirement.