Government

Medicare at 50? 

The following is an excerpt from a summary of a new bill introduced by several Democrats in Congress. Seems like a good deal, right? Interesting that they compare prices with a gold plan which is the most expensive and which most people have no need to buy.

In my area (NY metro area) the average price for a more reasonable silver plan for a 60-year-old is $10,512. Still an apparent savings, right? However, taken at their word this is buying in to traditional Medicare, the individual still will likely need supplemental coverage and prescription coverage which adds about $2,880 to the annual cost. Now the Medicare package costs $11,092 a year compared with a more reasonable silver plan at $10,512.

Funny how spin works isn’t it? Did they mention that all the risk is now shifted from private insurers to taxpayers? I   d o n t   t h i n k   s o 😨

If this person was a smoker, the risk and exchange premium could be higher, but that only means more costs shifted to taxpayers under this plan. 😮

The House bill would allow Americans 50 or older to buy in to Medicare for as little as $8,212 a year. Considering that a 60-year-old currently purchasing a high-ranking “gold” plan on the exchange would pay an estimated $13,308, according to the congressmen’s offices, that’s a major savings. 

Government can’t give without taking from others!

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3 replies »

  1. That would make their monthly payment approx $695 a month. I doubt anyone would afford that much premium. Presently most recipients of Medicare pay around 1350 yearly with a monthly premium of about $111. How would that help anyone to pay that much for a premium? Unless you could get a lower amount including an RX benefit as well, 50+ recipients could not afford that type of a plan!

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