Political and Legal information on the Health Care Debate. View our freshly updated You Tube videos about health care on the right hand side of this blog. Includes ideas from politicians concerning Universal Health Care. Information on all things health insurance related from Medicare to short term health insurance.

Monday, March 31, 2008

Medicare Insurance Program is in Serious Trouble

And this is the 800 lb gorilla that none of the candidates want to talk about. This is an article from the Florida Medicare Foundation that says Medicare will be insolvent in 2019 if nothing is done. This means. . . "A person who is 54 years old today cannot be assured that Medicare hospital insurance benefits will be there when he or she turns 65 and first becomes eligible for Medicare." It says that as of next year, Medicare will be spending more money than it brings in. Medicare costs account for nearly 500 billion dollars each year. Every candidate talks about providing health insurance to people who don't have it now as though it is a tragedy. But I would prefer that they focus on ensuring that the health care that they have already promised can be delivered before they move on to promise more that they can't deliver. Enjoy this important article.

Florida Health Insurance Consultant Says Medicare Insurance Program is in Serious Trouble

With most of the health insurance debate focusing on universal health care, Medicare Trustees admitted this week that the Medicare Hospital Trust Fund, and the Supplementary Medical Insurance Trust Fund "expenditures are growing more quickly than the rest of the economy - that is troubling news," according to Morgan Moran of Florida Health Insurance Web, a health insurance consultant.

(PRWEB) March 31, 2008 -- No other topic is more important to Florida, than health insurance. Florida continues to lead the way in terms of sheer numbers of newly arriving retirees, each of these new Floridians hope their savings, and health insurance policies will be enough to get them through their golden years. Then, the latest news from Medicare arrived and is bad news for Florida. "Currently Medicare expenditures eat up 3.2% of the GDP a total of ($432 Billion)," Morgan Moran of Florida Health Insurance Web, said in a phone interview, "the total is expected to rise to 1 Trillion dollars by 2083."

The government needs to act quickly to address Medicare's fiscal health, and enact steps which would postpone the insolvency date. Congress should quickly act on this warning, which would allow the program to be modernized and transformed.
The health insurance consultant continued, "The latest figures show Medicare's Hospital Insurance (HI) Trust Fund will be insolvent by 2019." This year the Hospital Insurance Trust Fund will pay out more than its earns, and over the next 10 years (equal to $342 billion). "Funds will more than likely need to be transferred from the Federal treasury to cover beneficiaries' hospital insurance expenses," said Moran.

Florida Health Insurance Consultant Moran is quoted as saying, "The government needs to act quickly to address Medicare's fiscal health, and enact steps which would postpone the insolvency date. Congress should quickly act on this warning, which would allow the program to be modernized and transformed." More information on this story is available at the insurance web site www.FloridaHealthInsuranceWeb.com.

A Medicaid Services Administrator, Kerry Weems states, "A person who is 54 years old today cannot be assured that Medicare hospital insurance benefits will be there when he or she turns 65 and first becomes eligible for Medicare."

Continue reading the article here.

1 comment:

mbuel said...

This is what happens with all government entitlement programs. It's a lie that people wouldn't have gone back to work without the social security entitlement that FDR set up... He's ingrained 4 generations with the belief that they are ENTITLED to government money after "retirement".

We want a balanced budget? End the following:

95% of all welfare.

stop the managing of the banks. Kill the federal reserve.

Public Education. Before it was public it was private and it was
BETTER than what kids get today.

After doing that, we could get rid of the IRS, because the government wouldn't need as much money!