Thursday, December 12, 2019

Medicare for All?

I actually sell Medicare products (Medicare Supplements, Drug Plans, Medicare Advantage, etc.). The young people seem to think Medicare is FREE! to seniors.

Where to start?

Part A is free to the end user - well, if you don't count the years of work needed to qualify for it. Some people, with fewer working years, DO pay for Part A, which covers 80% of hospital-related costs.

Part B just got a jump in monthly charges - to $144/month. That part of Medicare covers doctor's visits and some tests - again, 80% of the costs. If your income is particularly high, you may be assessed additional monthly charges - no, the rich don't get a free ride.

That's why Medicare Supplements were created - when seniors buy them, they cover the remaining 20% of the costs. Such add-ons to Medicare cost anywhere from around $75 - $200 a month.


At the LOW end of monthly costs - before getting ONE visit to a doctor - those on Medicare have to pay a little over $200 a month. Some are paying more than $400/month, just for the plans, even if they don't use them.

That doesn't even touch prescription drug plans - which, at the low end, start around $25/month, and can reach $100 or more a month.

I'm not even going to go into deductibles, co-pays, or restricted drug lists and tiers of co-pays.

Plus, every year, the cost of the Med Sups and Drug Plans increases. And, if you chose not to have a Drug Plan, when you finally decide that you need one, the government will fine you for every month you didn't have coverage - for the rest of your life.

All of which makes this video almost amusing - if it amuses you to see ignorance on display.


pdwalker said...

Few things are more expensive than "free"

Rick C said...

I really wanted to smack that "oh, if it's not free, I don't want it" kid.