Friday, March 10, 2017

Medicare cheap

A friend wrote me the other day saying how much he loved his Medicare and I can understand why. Medicare Part A covers hospital expenses and is free. Medicare Part B covers 80% of doctors expenses and cost $100 per month. In addition a good supplement to Medicare cost $150 per month for a total of $250 per month or $3,000 per year. The average cost of a heart transplant is $1.2 million and the cost to a Medicare recipient is almost nothing. How can the cost of health care for elderly people with their high morbidity rate be so inexpensive? There are 46 million retired people on Medicare and the cost to the government is $650 billion or $14,000 per person. Where does the other $11,000 come from? Guess! But you say this is not welfare, I paid for this while I was working. NOT! When Medicare came out in 1965 it cost me $3 per month. Even my last year working when I made $50,000 my Medicare cost was $725 per year. That means I paid in about $12,000 and my employer paid in another $12,000. The average person receives about $180,000 in benefits. I bring this up because most people on Medicare are not concerned about the cost only what they have to pay and that is very little. I have heard older patients say they are astounded seeing their hospital bill but they are not concerned.

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