Affording Medicare

[wnytaxman]

Quote:

Originally Posted by LadyFitz... My present medical insurance is free as part of my retirement plan. When I turn 65 in a little over two years and have to go on Medicare, my present insurance becomes a medicare supplimental plan. I'm budgeted for the Medicare premiums I will have to pay (the money is going into savings for new) but what happens if Medicare is gone or severely reduced by then (a real concern since so many politicians want to cut it back or out to "help" the economy)?

One of the reasons we have the abuses in Medicare is that whenever anyone talks about reforming the system a whole bunch of folks get all up in arms that "they're going to take Medicare away." All that anyone is talking about is trying to reform a system that is clearly broken. For example, should someone not have a heart transplant because there is no money left, but there's money for Viagara. Reforming the system is not destroying the system.

[edj]

Quote:

Originally Posted by wnytaxman The problem with Medicare as with many government sponsored programs is that waste, fraud, and abuse tend to dillute the benefits until none are left.

Actually, many studies have shown that Medicare is much more efficient and has less overhead than many/most private medical insurance companies.

[LadyFitz...]

Quote:

Originally Posted by wnytaxman One of the reasons we have the abuses in Medicare is that whenever anyone talks about reforming the system a whole bunch of folks get all up in arms that "they're going to take Medicare away." All that anyone is talking about is trying to reform a system that is clearly broken. For example, should someone not have a heart transplant because there is no money left, but there's money for Viagara. Reforming the system is not destroying the system.

Maybe you aren't following the news. Proposals phasing out Medicare, cutting benefits, and cutting payouts (causing many doctors to no longer accept new Medicare patients) crop up fairly frequently.

[ljr]

Quote:

Originally Posted by edj Actually, many studies have shown that Medicare is much more efficient and has less overhead than many/most private medical insurance companies.

Then I'm happy for you but may I be permitted to choose not to participate? That's a rhetorical question since we know the answer already.

[Wizard]

Let me add, we turned 65 last year and was forced to go on medicare. Deciding what plans and getting everything setup has been the single most aggravating experience I have ever been through.

We had to also take a plan D to help cover medicine. I never realized how good my previous insurance was. My wife and I both will probable blow right through the doughnut hole this year. Going to cost us about $4000 for medicine. There goes most of my extra money's this year.

The part a and b has been good so far and actually we have not paid a cent for doctor visits. Ours is just under $300 a month for a, b and d.