Tuesday, November 10, 2015

A Seniors View of His Medical Insurance Future

Ryan-pic by DonkeyHotey via flickr

It seems that we Seniors are eating too much Chicken at the political picnic!

And, if history is any lesson on how corporations and governments operate, I and the rest of us Boomers, are in serious trouble.

I figure that once the younger people of America get put on "Coupons" for their future insurance,I assume we older ones with be the next ones who get the shaft. 

It would be a natural and obvious next step for the government as Medicare costs go up, if for no other reason than that there will be less people on Medicare and thus the shared costs will be less. 

This in itself would drive our Congress to give we remaining participants our own "Coupons". And applaud themselves for doing it.

Here is the thing about COUPONS that we should all remember.
1-let's say that Congress approves and issues a Coupon for $150 per month for you to go out and buy insurance yourself with independent insurance companies.
2- Everyone goes out and purchases insurance coverage for $140 per month at first.
3- Then, 3 years later inflation has made the insurance companies charge $170 per month.
Where do the "Coupon"  holders then stand?
Well, they write a check for the difference themselves, every month, until Congress meets and approves an increase in the value of a COUPON.
4- So, after another year, they place a bill before congress for a COUPON increase $170, right?
5- Well, If you assume there are 50-Million people on Medicare that's $20 times 50-million or over 1-Billion dollars would be added to the National debt.
6- So with this kind of potential increase to the debt, there will be a lot of fighting over whether an increase will be approved at all.
7- And if it is approved then they will, in all probability, add provisions to cut the coverage available and thus reduce that awful 1-Billion dollar future debt.

This is my scenario analysis and as we Boomers and Seniors die off, our combined influence and leverage in congress will slowly decline until we are an insignificant force to be dealt with, at the worst times in our lives, when we are in our eighties or older.

And, if my scenario is correct, by the time Congress did anything to raise the coverage and implement the change, the insurance companies will probably have raised their rates to $180.

See the problem?

So,get ready to be put on the perpetual CATCH-UP Wheel of shrinking Medical Care.

Don






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