Thursday, August 15, 2019 1:00 am
Pair of grateful vets
A big thank you to the people who paid for our meals at Texas Roadhouse on Aug. 2.
We are two disabled veterans – Fort Wayne Strong.
Bruce H. Snider
EDUARDO Y. DeLEON
Hidden costs sink Medicare for All
Abraham Schwab, in his Aug. 7 piece, leaves the impression we should consider all costs as we look at Medicare for All.
If there is a deductible in your current plan of $1,000, that is to be considered part of the cost. He says if the Medicare tax was, for example, $2,000 a year, then subtracting that from your current health premium and deductible would be your savings.
First, Medicare has two deductibles. There is the $1,364 Part A deductible per benefit period (not calendar year). Further hospitalizations have a formula for co-pays. Second, there is the Part B deductible of $185 per year. He failed to add these into the equation. What was also never mentioned was the co-insurance of 20%. I'm not familiar with a stop loss on my Medicare insurance as I had with my personal insurance before retiring.
Now you can add in supplemental insurance, which can run anywhere from $400 to $2,400 a year.
Another “cost” factor not considered is this: The premium a retiree pays does not cover current premium costs. Part of your FICA goes to help fund Medicare. So, to put young, currently employed individuals on Medicare does not give the opportunity to advance-fund their insurance. They would have to pay for their insurance plus cover the costs of the current over-65 enrollees. Or, we would have to raise the current over-65 costs.
So, he is correct when the question is asked, “will it raise my taxes”? And he is correct that it is not the only cost involved. But, I believe that question will be answered in broad terms with no actuarial backing. And, as always, the tax will far exceed our expectations.
Finally, Medicare does not cover prescriptions. That is all part of Medicare D. My wife and I spend well over $3,000 a year for that benefit and our share of costs.
Congress did not see fit to allow those on Medicare to contribute to a health savings account. If you want to “promote” something, I suggest promoting health savings accounts from our government for those over 65.
I think before one jumps on the Medicare for All bandwagon, they better look down the road. I have yet to hear any actuarial presentation on all cost factors of these outlandish “give” programs. Someone has to pay.
Paddock fights for public safety
Councilman Geoff Paddock has been a champion of public safety. He has worked each year with Mayor Tom Henry to add police officers and firefighters. Paddock worked hard to secure funding for added public safety during his eight years on City Council. Now we are one of the safest cities of our size in the United States. Geoff cares about our police officers and firefighters and has made sure they are treated with dignity in the workplace and receive the benefits they deserve. Geoff has been endorsed by the local firefighters because he has earned their trust in his years in office. Vote for Geoff Paddock on Nov. 5.