In our recent hospitalization the case worker came in to review our insurance / expected costs. I pay for traditional medicare and Part G supplement. I also paid in to the system handsomely during my working years. The case worker said we would have very little out of pocket expense. She was right, about $400, less than 1% of the billed cost.
I asked her what happens with Advantage. Short answer, lots of unexpected bills for out of network. We live near the state line and to stay in network one must travel over 100 miles for medical care comparable to what can be had across the state line just 25 miles away.
I know the country is broke and that the medicare, medicade and SSI are going broke. I can’t do a thing about any of it. I paid in a lot of money to these systems and I will take all I can get for as long as I can get it. NO remorse at all.
If they want to change the programs and keep me whole that is fine with me as well if there is a reasonable and affordable alternative.
Medical “care” in this country is busted with too many hogs at the trough lapping up 17% and increasing of the economy. It has gone on much longer than I ever expected without reform. Medical costs are a problem on par with illegals but it is not even on the radar screen for reform. I wonder why? Could it be that they are paid well and pay their friends in gooberment just as well or better?
“Could it be that they are paid well and pay their friends in gooberment just as well or better?”
The local and state government employees typically have wonderful coverage, far better than that of members of Congress.
What might be done is to make employer health care contributions taxable if the employer coverage costs more than 90% of the PPACA base silver plan premium amount for the ratings area. The PPACA had a luxury plan tax, but it did not adjust for local conditions and was dropped.
I have the same Medicare setup. One of the pluses is that we have much better access to medical care here than they have in other countries. I cannot complain about wait times or any of that.
The real problem with medical care is that there is so much that can be done now. Take leukemia. Back in the 60’s if you were diagnosed with that, it was all over. Go home and get your affairs in order and they’ll give you morphine if anything hurts. Today, it is treatable, but with long, drawn out, complicated, and expensive procedures.
Not too long ago, a woman on dialysis got an engineered pig kidney made especially for her. It actually lasted for 2 months before they started tinkering with her medication and then it quit working. That is very promising, very impressive, and undoubtedly very expensive. What is going to happen if this treatment comes online? Every kidney patient is going to want a bespoke pig kidney, and they are going to want it now. Who is going to pay for this? And this is just the tip of the iceberg.
I suppose we could set a cap on how much of the economy can be devoted to medical care, but I don’t know how that would be administered.
There is a lot of soul searching that going to need to be done.
Try reading this:
https://market-ticker.org/akcs-www?post=253727
Karl Denninger has been on a tear recently about how medical costs have gone from 5% of GDP up to 20%, and how that will BANKRUPT the country.
Incidentally, he has an IQ of 187 and very little tolerance for BS. Salty language at the site.