Opening Medicare to age 55+ may also stimulate the job market

[Kber]

My 61 year old mother can afford to retire, but only if she can find health insurance at a reasonable rate. There may be others like her who are working for the health care only. When she retires, she will be replaced at her job.

Just a thought.

[Schema Thing]

1. I don't know if that effect will be large or small

but it will happen to some extent, and that's a good thing.

[eleny]

2. Two big details we wait for on tenterhooks - the age limit and the premium amount

k&r

[hedgehog]

3. FWIW - I posted a similar story elsewhere tonight. Two anecdotes are

two anecdotes, but at some point it becomes an important consideration.

:hi:

[tonysam]

4. The problem is "they" are proposing something like $200 a month

for Medicare for younger people. This isn't acceptable if one is unemployed and can't get work because of age.

[Kber]

7. That's only one of many problems, to be sure

I think you could stimulate the economy even more by opening Medicare up to everyone because you would have a bumper crop of entrepreneurs who could strike out on their own if they had access to affordable health care.

They'd both create new jobs, new businesses, some would hire employees, and most would leave openings at their old establishments for people to fill.

But then I don't run the zoo.

[tonysam]

9. I like the idea, don't get me wrong, but it would be hard to afford

the premiums if you have no work. Self-employment takes money as well.

[Kber]

15. Oh no doubt

I was really just thinking about my Mother who has some decent savings and became eligible to receive a pension from the Rail Road last January. I think she could swing it, even paying $300 a month for premiums.

However, her husband isn't 55 yet and she carries her on her policy, so she might have to work another 3 years to retire afterall.

[roamer65]

8. Here is where I would support making private health insurance benefits taxable.

To fund Medicare for everyone 55+ at no cost.

[TahitiNut]

12. It should be about $384/month. (That's the current rate.)

The current Medicare premium charged to 65+ retirees on Social Security is about $96/month ... which is 25% of the cost, where the other 75% is paid by FICA/HI (that 1.5%) payroll taxes. That's a fair rate for someone 55+ and lower than available from private (for-profit) companies, I believe. For those who cannot affor $384/month, assistance is supposed to be made available.

[Lasher]

19. It's good to see you back.

I for one have missed you.

Lasher

[TahitiNut]

23. Whenever I miss someone ...

... I work to improve my aim. :dunce:

[amandabeech]

22. That's the basic Part B premium which covers doctor's visits, etc.

Part A is hospitalization which is the most expensive component. That's where the bulk of the $850 monthly payment total is coming from.

[dysfunctional press]

16. $200/month would be a bargain price.

i'd be shocked if it's as low as that.

[democraticinsurgent]

5. yes

this could be good news for me. I'm paying on the open market as a self employed/aka unemployed worker for my insurance and it's crappy for almost $300 a month. I would hope to a) be eligible for Medicare and b) that the medicare insurance would be better than Anthem.

[roamer65]

6. If they do this, I will retire at 62.

Maybe work some putzy part-time job for extra money, but I will leave full time work.

[madrchsod]

10. depending on the tax rate it could be a huge win for business

a business could offer supplemental plan and an employee would be fully covered.

i know it would be for my wife's employer

[roamer65]

13. A big win.

I suspect business will offer to pay the entire Medicare premium and supplement for employees 55+.

[Lasher]

20. Retirees too.

Lots of people younger than 65 currently receive retiree medical benefits.

[2Design]

11. actuallly it might make it better employment for older americans if companies

don't have to cover their insurance - they will stop put older out of jobs

[aquart]

14. And others will be able to get jobs because they are NOT needing insurance.

All the people deemed uninsurable with pre-existing conditions may not be hireable because they won't be jacking up the corporation's health insurance rates.

[dflprincess]

17. I still won't retire until I'm 70

The benefits estimate I received from SS this year shows a nearly $500/month difference in monthly benefits between retiring at 70 vs 66.

Besides, we don't know the details of this plan - it may still be necessary to buy a medigap supplement and then there's Medicare D costs.

[backscatter712]

18. If small businesses were even partly relieved of health care expenses...

That would do awesome things for the economy. Small businesses are getting their asses kicked by health care costs, and if this bill helps with that, we'll see a definite boost!

[LynneSin]

21. This who medicare thing is really a big win for the democrats

I hope it works out!