Can someone tell me what I am missing with the health care bill?

I was reading where the senate wants to open Medicare up for people to buy in when they turn 55. OK, that sounds like a pretty good deal to me, but they keep saying one of the ways they are going to pay for the health care bill is they are going to cut Medicare by billions of dollars. I've never pretended to be a genius but how are they going to cut it by billions of dollars and add millions of people from 55 to 65 at the same time? Now they are saying those people can "buy into" Medicare for a cost of approx. 7600.00 a year. That is over 633.00 a month. If that is a bargain, insurance must be much more expensive than where I live. I have BC/BS single coverage w/ 40.00 copay and dental for 160.00 a month and I am 46 years old. Am I missing something or does all this seem to be a "bait and switch?" Is this the health plan Americans voted Obama in office to get?
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You asked a serious question and the link below provides a serious response unlike the junk you have received so far. Both the House bill (HR 3200) and draft legislation from the Senate Finance Committee, released this week, include around $500 billion in savings carved from future growth in Medicare spending over a 10-year period. Although that sounds like a huge sum, it's actually only a small fraction of the $6.4 trillion expected to be spent on Medicare from 2009 to 2019. Still, where will the money come from? The savings are expected to be achieved mainly by: reducing fraud and waste more aggressively; reducing government subsidies to private Medicare Advantage plans; paying doctors more for practices that improve quality of care and save money; and paying providers (notably hospitals and home health agencies) a little less of an increase each year in an effort to gradually trim the rate at which Medicare costs climb over time—aka "bending the cost curve."
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