No. of Recommendations: 64
SeattlePioneer analyzes,

Medicare is grossly underfunded. It's going to collapse, and pretty soon unless there are large cuts or large tax increases. My priority is not to hit gen X, Y and Z with tax increases. If the boomer generation takes a hit (including myself), tough.

Democrats really can't afford to ignore the problem as they have been doing for decades.


I agree. But let's cut some of the corporate welfare out of Medicare before we start cutting benefits.

1) Get rid of the Frist Amendment that prohibits Medicare from using its considerable market power to negotiate lower presciption drug prices. Medicare pays 40% more than the Veterans Administration for the same drug on average.

2) End the prohibition on Medicare considering cost when approving a new medical device or procedure for coverage. If a $3,000 drug-coated stent for cardiac catherization isn't any more effective than the plain vanilla stent (which is already outrageously overpriced at $1,000), Medicare shouldn't cover it.

3)Let's have competitive bidding for this Medicare $hit we see advertised on TV. If the reimbursement is large enough so that the company can hire Wilfred Brimley as a spokesman, it's probably too high.

4)Keep insurance companies out of Medicare. No one has been able to explain to me how adding an insurance company's 20% overhead and profit to a doctor's bill is supposed to make health care cheaper. And the Republicans' efforts to date to save money by handing some part of Medicare to the insurance industry has always resulted in higher costs.

Once the Republicans do the above, then maybe we can talk about raising premiums or copays if we're still in the hole.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.