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Showing posts with label medicare. Show all posts
Showing posts with label medicare. Show all posts

Saturday, April 30, 2011

Medicare on my Mind.

No matter what work you did, even if you worked for yourself, you probably contributed to Medicare, knowing that in your senior years, when you needed health care the most, the program would guarantee that major hospitalization and surgery bills would be paid off.  You couldn't anticipate how sick or feeble you'd become after a certain age, and even if you owned the farm, and the implements to operate it, you could never know how your health might bankrupt the family business.

Medicare has been around for a long time because people have seen its usefulness and are willing to maintain it. 
The program, however, is becoming costly.
All of our medical expenses are becoming out of control.

Medicare doesn't even cover all the expenses seniors face when their health is poor.
Most seniors purchase additional insurance, Medigap, to cover anything that Medicare doesn't cover.

So, how much of seniors' income is spent on medical expenses?
A big wallop!

Premiums for Medigap and Medicare Part B and D (these are newer parts added in the last few years to expand the coverage of the original Medicare that covered only major medical) and dental coverage, can be as much as half of the Social Security Benefit payments seniors receive.

In other words, medical costs are out of control. And yet, we are still fighting each other on how to deliver medical coverage to people without bankrupting them.

You say we can't afford these benefits?
I say, we can't afford not having these benefits.
We need to figure a way to contain costs and to insure everybody, so that in the richest country in the world people don't die of diseases and poor care.  Our infant mortality is one of the poorest among developed countries. 

How did we let that happen?
Now, we're proposing cutting benefits, or curtailing them for seniors.
Our senior mortality will be the poorest in the world.
Not really what we want is it?


Saturday, January 22, 2011

From where I stand.

By now, you must know that I am a retired senior citizen.I live in a beautiful little town, with this beautiful vista. Lucky me!

From where I stand I have lots of time, but not a lot of resources.

Our biggest issue as senior citizens is affordability.  Affordability of health care, daily expenses, necessary services. Most of us are on fixed income. What that means is that most of our income is not growing in value; our purchase power is much less today than it was the day we retired.

When gas prices go up or a new medicine is prescribed, we have to find money to pay for these things from our present budget.  If we get fatally ill, we could lose all of our assets to pay for that medical care, including our homes, our pensions, our savings.

So, don't be surprised to know that we will cost tax payers more for Medicare, for Social Security, for Medicaid. These programs took a long time in coming, helping many people live through a longer lifespan with a modicum of security.

Middle class seniors who worked all their lives, who saved and scrimped, are still in jeopardy.  If Medicare and Social Security were reduced, seniors would be suddenly homeless and on the streets.

Regardless of where we live, most seniors have a tough time balancing their budgets. More and more seniors  become wards of their own children, bunking in a spare room. So, if we go under, our children go under too, taking us in, suffering the extra burden of babysitting grandpa who is unable to afford to stay in his own house.

Golden years?

Most folks run out of savings in the first five years of retirement. Even with social security and Medicare, seniors are quickly lowering the quality of their lifestyle the minute they quit their work.  They may not need new clothes or new cars, but they will need more and more medical services and drugs.

Can you save enough to live well in your golden years? Financial advisers tell you to start savings in your twenties,  investing your money for the years when you won't be able to work. 

Now, if you expect to retire early, you need to stop reading this, turn off all extra appliances, and start making a plan today to live frugally from this day on. Don't say you didn't know.