On 6/14/2011 2:31 PM, RD Sandman wrote:
Jeff wrote in news:_dGdnRlM7bx-
:

On 6/14/2011 1:25 PM, RD Sandman wrote:
[snip]
Poll: 58 percent want Medicare kept as is.

And, probably 58% of those have no idea how Medicare is paid for.

However, Medicare significantly outperforms private insurance in
controlling the rising cost of health care.

http://www.consumerwatchdog.org/node/11672

I already read his opinion piece.

Bottom line is that Medicare is projected to rise in cost 77% over the
next decade, Medicaid by 99%.

Medicare is financed from different sources and it supplies cost coverage
to different operations within it. Part A (inpatient hospital) is
covered by the Hospital Insurance Fund (HI). Part B, (which covers
physicians and outpatient care )and Part D (prescription drug benefits)
are paid for by the Supplementary Medical Insurance Fund (SMI) along with
state payments toward the prescription drug benefit.

On the revenue side for 2010, we had:
Payroll taxes providing $182B
Premiums providing $61B
Taxation of benefits providing $13.8B
Transfers from states for prescription dug benefits providing $4B

For a total of $261B for 2010.

With a total cost of $523B, that means that $262B must come from the
general fund as taxes and premiums only cover about half of the cost of
the program. Having to get $262B from the general fund where currently
about 40 cents of every dollar is borrowed makes some folks uneasy. When
Medicare was started, the premiums and payroll taxes were to pay for it.
They don't.

Yes, the HI fund had a balance last year of $344B but that surplus has
been drawn upon and reduced and soon will be depleted.

Hope this helps....



Well, it looks to me like we can't afford to go around the world
fighting wars anymore. That's for rich countries like China and Germany
not broke ones like U.S. That's too bad because we're great a killing
people abroad.

Hawke

On Jun 15, 2:14*am, Hawke wrote:
On 6/14/2011 2:31 PM, RD Sandman wrote:





Jeff *wrote in news:_dGdnRlM7bx-
:

On 6/14/2011 1:25 PM, RD Sandman wrote:
[snip]
Poll: 58 percent want Medicare kept as is.

And, probably 58% of those have no idea how Medicare is paid for.

However, Medicare significantly outperforms private insurance in
controlling the rising cost of health care.

http://www.consumerwatchdog.org/node/11672

I already read his opinion piece.

Bottom line is that Medicare is projected to rise in cost 77% over the
next decade, Medicaid by 99%.

Medicare is financed from different sources and it supplies cost coverage
to different operations within it. *Part A (inpatient hospital) is
covered by the Hospital Insurance Fund (HI). Part B, (which covers
physicians and outpatient care )and Part D (prescription drug benefits)
are paid for by the Supplementary Medical Insurance Fund (SMI) along with
state payments toward the prescription drug benefit.

On the revenue side for 2010, we had:
Payroll taxes providing $182B
Premiums providing $61B
Taxation of benefits providing $13.8B
Transfers from states for prescription dug benefits providing $4B

For a total of $261B for 2010.

With a total cost of $523B, that means that $262B must come from the
general fund as taxes and premiums only cover about half of the cost of
the program. *Having to get $262B from the general fund where currently
about 40 cents of every dollar is borrowed makes some folks uneasy. *When
Medicare was started, the premiums and payroll taxes were to pay for it..
They don't.

Yes, the HI fund had a balance last year of $344B *but that surplus has
been drawn upon and reduced and soon will be depleted.

Hope this helps....

Well, it looks to me like we can't afford to go around the world
fighting wars anymore. That's for rich countries like China and Germany
not broke ones like U.S. That's too bad because we're great a killing
people abroad.

Hawke- Hide quoted text -

- Show quoted text -

Agan well said.

And our enemies know it.

TMT