By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    healthcare cybersecurity
    4 Helpful Tips on How to Protect Your Medical Practice Against Cyber Attacks
    October 24, 2021
    Health Check Diagnosis Medical Condition Analysis Concept
    6 Health Woes With Online Remedies
    January 19, 2022
    Eight Things Men Should Know About the Male Menopause
    Eight Things Men Should Know About the Male Menopause
    April 24, 2022
    Latest News
    6 Essential Strategies for Improving Your Medical Practice
    January 25, 2023
    Staying Positive While Living with Mesothelioma
    January 24, 2023
    The Many Health Benefits of Being Outdoors
    January 17, 2023
    How to Assess a Safe Placement of a Nasogastric or Nasoenteric Tube and Its Complications
    January 19, 2023
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    How to Help Teens with Depression
    April 3, 2018
    anthem logo
    Blue Cross Blue Shield Provider Anthem Hacked
    February 11, 2015
    Minimizing Nursing Injuries: A Policy-Based Approach
    Minimizing Nursing Injuries: A Policy-Based Approach
    April 14, 2019
    Latest News
    Simplifying the Genetic Testing Process: How At-Home Kits are Changing the Game
    January 25, 2023
    9 Hospitals That Have Introduced Green Initiatives
    January 25, 2023
    Why a Health Retreat Can Be the Best Medicine
    January 12, 2023
    Best Money-Saving Tips for Health Managers
    January 12, 2023
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Medicare Is Lousy Insurance
Share
Sign In
Notification Show More
Latest News
ABA therapist
Everything You Need to Know About Applied Behavior Analysis
Health
Small Lifestyle Changes That Can Have A Big Impact On Your Well-Being
lifestyle Wellness
The Future Of Medicine: How Immunotherapy Is Saving Lives
The Future Of Medicine: How Immunotherapy Is Saving Lives
Technology
medical practice and technology advancement
6 Essential Strategies for Improving Your Medical Practice
Technology
digital dental x-ray
How Does A Digital Dental X-Ray Work?
Dental health
Aa
Health Works CollectiveHealth Works Collective
Aa
Search
Have an existing account? Sign In
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Medicare Is Lousy Insurance
BusinessPolicy & Law

Medicare Is Lousy Insurance

JohnCGoodman
Last updated: 2011/05/02 at 8:30 PM
JohnCGoodman
Share
4 Min Read
SHARE

The House budget proposal is serving as the latest piñata for Democrats who always use the exact same cudgel — “Extremist Republicans are threatening to throw America’s elderly into the streets!”

This, after these exact same Democrats cut half-a-trillion from Medicare to subsidize ObamaCare.

How do they get away with it?

The House budget proposal is serving as the latest piñata for Democrats who always use the exact same cudgel — “Extremist Republicans are threatening to throw America’s elderly into the streets!”

More Read

cybersecurity options for hospitals

Should Hospitals Use SASE or Traditional Network Security?

6 Tips for Getting Into Medical School
The Technology and Services You Need to Open Your Own Counseling Office
Do You Need Life Insurance? What Does It Cover?
5 Ways New Technology is Revolutionizing Health

This, after these exact same Democrats cut half-a-trillion from Medicare to subsidize ObamaCare.

How do they get away with it?

Partly because Republicans have failed to tell the truth about Medicare for decades. They have enabled the Democrats to create this sacred cow because they either: (1) don’t know enough about it to articulate a different view, (2) don’t care enough about health care in general to become better informed, or (3) are so timid that they are afraid the speaking the truth will get them in trouble with the electorate.

Now their ignorance and/or timidity has come back to haunt them. Most of the elderly hold on to Medicare for dear life because there is nothing else available and they have no basis for comparison.

But the fact is that Medicare is a lousy insurance program. It would be impossible to sell a benefit structure like this on the private market.

Continue Reading [hot link to rest of post below]

California Health Advocates has published a handy dandy little table laying out the premiums, deductibles and coinsurance for Parts A and B. It would be interesting to put the table in front of some of the know-it-all health policy wonks in Washington and quiz them on it after they have studied it for fifteen minutes. I’m guessing not one in five would pass such an exam.

While ObamaCare made a big deal about out-of-pocket costs in private coverage, Medicare has absolutely no limit on out-of-pocket spending. None.

As a consequence, people on Medicare pay an enormous portion of their incomes on health care. The Kaiser Family Foundation finds that the average household on Medicare spends 14.9% of its income on health care, while the average non-Medicare family spends just 4.8%. These are averages, and the lowest income Medicare families are also eligible for Medicaid. If we leave out the Medicaid portion of the population, the average Medicare household actually spends 16.6% of its income.

Because of the coverage gaps in Parts A and B of Medicare, most seniors also obtain MediGap insurance (either directly or through an employer) and even then they don’t have the drug coverage that most nonseniors have. So enter Medicare Part D — a third plan which requires yet another premium. The typical senior, then, is paying three premiums to three plans. Each one has a different premium arrangement, different deductibles and coinsurance, and different coverage limitations.

So, in addition to being massively underfunded, Medicare is also vastly complicated and enormously expensive to consumers.

It is also rife with corruption, as the Medicare bureaucracy refuses to spend the money to make sure it pays only legitimate claims to legitimate providers for legitimate services. It prefers to round up a handful of crooks every five years or so and charge them with fraud rather than perform normal due diligence when paying claims.

It is a monstrous program. Republicans should be proud to offer the nation’s seniors something better.

   

TAGGED: health care business, health care policy, insurance, Medicare

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
JohnCGoodman May 2, 2011
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article Fertility Focus Improves Diagnoses and Treatment of Infertility
Next Article FDA Approves Diabetes Pill

Stay Connected

1.5k Followers Like
4.5k Followers Follow
2.8k Followers Pin
136k Subscribers Subscribe

Latest News

ABA therapist
Everything You Need to Know About Applied Behavior Analysis
Health January 26, 2023
Small Lifestyle Changes That Can Have A Big Impact On Your Well-Being
lifestyle Wellness January 26, 2023
The Future Of Medicine: How Immunotherapy Is Saving Lives
The Future Of Medicine: How Immunotherapy Is Saving Lives
Technology January 26, 2023
medical practice and technology advancement
6 Essential Strategies for Improving Your Medical Practice
Technology January 25, 2023

You Might also Like

at-home genetic testing method kits
Global Healthcare

Simplifying the Genetic Testing Process: How At-Home Kits are Changing the Game

January 25, 2023
green hospitals
Hospital Administration

9 Hospitals That Have Introduced Green Initiatives

January 20, 2023
benefits of going on a health retreat
Global HealthcareHealth

Why a Health Retreat Can Be the Best Medicine

January 12, 2023
saving money in healthcare
BusinessGlobal HealthcareHospital Administration

Best Money-Saving Tips for Health Managers

January 12, 2023
//

We influence million of users and is the most authentic source of information on healthcare business and technology news.

Quick Links

  • About
  • Contact
  • Privacy
Subscribe

Subscribe to our newsletter to get our newest articles instantly!

Follow US

© 2008-2023 HealthWorks Collective. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?