Government may scale back Medicare Part B premium increase

What I have read is the Dementia medication that was originally cited as the reason for the increase will not be as expensive as expected. The anticipated cost was reduced by around 50%, and that was forecasted back in Dec. , yet I have not read where they considered reducing the Medicare increase.

Typical with the govt. once they get their hands on more money they don't want to give it back.
 
The Medicare Trust Fund may face insolvency as early as 2026....just 4 years from now....IF our government doesn't start working on a solution Soon. Between government pushing problems down the road, and the extreme stress Covid has placed on our health care system, I suspect that medical expenses, and insurance premiums, will begin to rise substantially very soon.

https://www.dailysignal.com/2021/03/09/washington-must-face-the-coming-medicare-crisis/
 
Don M. said:
The Medicare Trust Fund may face insolvency as early as 2026....just 4 years from now....IF our government doesn't start working on a solution Soon. Between government pushing problems down the road, and the extreme stress Covid has placed on our health care system, I suspect that medical expenses, and insurance premiums, will begin to rise substantially very soon.

https://www.dailysignal.com/2021/03/09/washington-must-face-the-coming-medicare-crisis/
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Well like everything else, the money has to come from somewhere, and ultimately that's from the taxpayer (the working public). There is no free lunch. The country is already $30 trillion dollars in debt, and amazingly almost all of that is this century! The 9-11 terrorists threw us into an out-of-control financial tailspin!
 
I hate it when websites use light colored font for their articles! So I found an article that's a little bit easier to read in case anyone else has trouble reading faint font.
https://nowandthennews.com/2022/01/...-the-record-part-b-premium-increase-for-2022/
Thank you for posting this though Pauline because I hadn't heard about it. But do we really think the government will actually "roll back" the premium increase? I'd be very surprised if they did.
@StarSong "Can't see that happening. Perhaps there won't be an increase next year." That's what I was thinking.
 
OneEyedDiva said:
I hate it when websites use light colored font for their articles! So I found an article that's a little bit easier to read in case anyone else has trouble reading faint font.
https://nowandthennews.com/2022/01/...-the-record-part-b-premium-increase-for-2022/
Thank you for posting this though Pauline because I hadn't heard about it. But do we really think the government will actually "roll back" the premium increase? I'd be very surprised if they did.
@StarSong "Can't see that happening. Perhaps there won't be an increase next year." That's what I was thinking.
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They also won't roll increases back because Medicare is in serious financial trouble that the Covid crisis sure didn't improve. Our representatives in Washington need to get their butts in gear to solve funding issues for Social Security and Medicare before we hit a crisis.
 
I agree, but have a hard time seeing that happen. They can't agree on the time of day, much less anything that would actually be useful to the country. More like a group of unruly 5th graders, in a name calling contest. Mike


Quote: Our representatives in Washington need to get their butts in gear to solve funding issues for Social Security and Medicare before we hit a crisis.
 
Geezer Garage said:
I agree, but have a hard time seeing that happen. They can't agree on the time of day, much less anything that would actually be useful to the country. More like a group of unruly 5th graders, in a name calling contest. Mike Quote: Our representatives in Washington need to get their butts in gear to solve funding issues for Social Security and Medicare before we hit a crisis.
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For Sure! Most sources say that the Medicare trust fund will be empty in another 4 or 5 years, and the politicians seem unable to grasp that. When that day comes, either premiums will be raised substantially, or benefits cut drastically. What, if anything, Washington does to shore up Medicare will likely predict what will happen to Social Security.

Personally, I am not optimistic about the future of these programs.
 
spectratg said:
Well like everything else, the money has to come from somewhere, and ultimately that's from the taxpayer (the working public). There is no free lunch.
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Yep, and right now only about 15% of Medicare costs are paid by these premiums. The rest is payed for by the working tax paying public, one way or another. Not saying that's good or bad, it just is.

FAQs on Medicare Financing​

https://www.kff.org/medicare/issue-brief/faqs-on-medicare-financing-and-trust-fund-solvency/
 
StarSong said:
They also won't roll increases back because Medicare is in serious financial trouble that the Covid crisis sure didn't improve. Our representatives in Washington need to get their butts in gear to solve funding issues for Social Security and Medicare before we hit a crisis.
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You got THAT right! Some on this forum think they will make a last minute effort and solve those issues. Last minute may be too late!
 
OneEyedDiva said:
You got THAT right! Some on this forum think they will make a last minute effort and solve those issues. Last minute may be too late!
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It seems that the most common solution for Social Security.....among the politicians....is to institute a policy of "means testing". That means that if you have other sources of income....pension, IRA, etc., your SS benefits would be cut substantially.
 
I don't support means-testing for entitlement programs.

I do support increasing premiums and raising age limits for future beneficiaries.

In the case of Social Security, I support removing the wage caps.

I also believe that we should consider benefit caps on Medicare and Medicaid or what some would refer to as healthcare rationing.

IMO Medicare and Medicaid should be limited to basic healthcare and end-of-life comfort care.

I think that we all need to accept the fact that we are going to die and should not expect the government to spend enormous sums of money to extend our lives temporarily.

The Medicare premium of $170.10/month is a great bargain for health insurance in a country where many people choose to spend that much or more for a cable package.
 
Aunt Bea said:
In the case of Social Security, I support removing the wage caps.
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Agree, I never understood why that made any sense...
Aunt Bea said:
I don't support means-testing for entitlement programs.
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With respect to Social Security I agree. The program has gotten its support over the years in part because people believed they would benefit from it one day, no matter their financial situation. To consider things like 401k, IRA, or any savings or investments would create an incentive not to save...
Aunt Bea said:
I do support increasing premiums and raising age limits for future beneficiaries.
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I know we have to get the money somewhere, however supporting this feels a bit hypocritical. Now that I'm retired force the younger generation to pay for a problem my generation helped create... not sure that feels good.
Aunt Bea said:
IMO Medicare and Medicaid should be limited to basic healthcare and end-of-life comfort care.
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Maybe some limits are in order, but it is difficult. I also believe that Medicare and Medicaid should be delt with differently. People collecting Medicare paid into it for many years, maybe not enough, but we paid. Medicaid is different, people collecting it paid little or nothing.
Aunt Bea said:
The Medicare premium of $170.10/month is a great bargain for health insurance in a country where many people choose to spend that much or more for a cable package.
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It is, but this is subject to a kind of needs test. People with higher income pay more than the $170/month. It only covers a small amount of the cost of Medicare, but the people paying it paid in for many years without benefits.

Not a simple problem.
 
All the other advanced countries can afford health care for all. I wonder why we can't...
"The CEOs of 178 health care companies collectively made $3.2 billion during the coronavirus pandemic"
 
HoneyNut said:
All the other advanced countries can afford health care for all. I wonder why we can't...
"The CEOs of 178 health care companies collectively made $3.2 billion during the coronavirus pandemic"
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Can't help but think our duly elected representatives (on both sides of the aisle) are now completely in bed with big money corporations, big pharma, big healthcare, etc. Decisions at the top seem to be made to enrich the few at the expense of the many. Still have a lot to be thankful for though.
 


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