The Motley Fool Discussion Boards
Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: Disability: How the unemployed survive||Date: 3/27/2013 4:46 PM|
|Author: brucedoe||Number: 419057 of 440078|
What do they mean when they say people get Medicare?
During your work life you pay into Medicare-A (hospitalization). This is NOT optional. If this is what they are getting early, then it may be a relatively small problem (depending on the average age of disability).
If they are also getting Medicare-B (which is optional) and you pay for in qualified retirement, then they are getting a LOT because the Federal government covers 80% of the expenses. In brief this covers physician expenses. It also has a deductible (I think $300.).
Do they also get Medicare-D which is prescription medications? Those that have this pay something for it and it is complicated, but, if the disabled also get this, it would lead to large deficits in the program. I don't have Medicare-D, which is also optional, so I don't know a lot about it except for the famous "donut hole" which is due to be phased out in Obamacare.
There is also Medicare-C or Medicare Advantage that I feel is a fraud in which the government bribes certain health companies to participate in Medicare-B at a 15% premium. Participants do get something extra for taking this option. I presume that the disabled don't get this, but what do I know? I believe this option is due to be phased out in Obamacare.
Chances are when they say the disabled get Medicare, they don't specify which Medicare they are talking about or which group of Medicare alphabets are included.
When the qualifying age for Social Security was phased to 67, nothing was done about early participation at age 62 with somewhat reduced monthly payments. Personally, I think that anyone who doesn't take the early Social Security is foolish as you earn 5 yrs of payments that you can bank or invest if you don't need them. Who knows, you might not even make it to 67. Disclosure: I do not qualify for Social Security.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|