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Thanks Karl. You have just made an outstanding case of single-payer universal health insurance.
BTW--The limiting factor in the production of new physicians in America is the number of residencies available in American hospitals. Every available residency is filled every year in American hospitals.
Furthermore, every slot in every medical school in America is filled every year. That's why many Americans go to medical schools in other countries.
The fact is that Medicare not paying the bills has INCREASED the prices those without insurance are asked to pay so that premium costs for those not on medicare or medicaid are out of reach for millions. Most of us have to carry a medigap policy or an MA plan to cover what Medicare doesn't or go broke.
Arbitrary price-fixing doesn't work for long without creating shortages even in war time. There is already a shortage of American trained physicians with the slack being taken up by those educated elsewhere.
“....I know Medicare is costing the taxpayer and doesn't EVER pay the bills presented ...” -- Karl
If by taxpayer you mean the amount deducted from each paycheck for Medicare then you are correct. However, to imply that Medicare is paid from general tax revenues then you are totally WRONG!
And all physicians who accept Medicare agree to accept MEDICARE approved rates for their services, no matter what they bill. My PCP, my eye doctor, my physical therapist, etc. all accept MEDICARE approved rates and no further payment is required or expected.
It’s called HOLDING DOWN MEDICAL COSTS!
And I see my PCP four times a year for checkups, immunizations, etc., my eye doctor twice a year, and am currently seeing my physical therapist twice a week.
I have yet to pay anything out-of-pocket for those services.
No physician is required to accept Medicare patients and Medicare payments. Any physician can operate on her or his own, and many do, without dealing with Medicare.
And by current best estimates the Medicare fund is totally solvent until 2024, And very few businesses or agencies can make reliable financial predictions anywhere near that long term.
FICA is a bad tax system for a lot of reasons. It's a burden on businesses which other countries don't have. The return on FICA paid in for OA benefits is much more "progressive " than the income tax brackets and some of the OA benefits wind up being taxed again!
Medicare is funded by the Social Security Administration. Which means it's funded by taxpayers: We all pay 1.45% of our earnings into FICA - Federal Insurance Contributions Act, if you're into deciphering acronyms - which go toward Medicare. Employers pay another 1.45%, bringing the total to 2.9%. (If you're self-employed, you must cough up the entire 2.9%.) The Medicare deduction on your paycheck might say FICA-HI. The HI refers to Health Insurance, and it's your premium cost for all Medicare coverage.
While our FICA taxes to cover payments into the Social Security system are levied only on the first $106,800 in earnings for 2010, the Medicare tax is levied on every penny you earn.
You will also pay some Medicare costs yourself when you start using the plan.
So Karl, I am sure many of us posting on these threads would appreciate your not posting misleading information. Try checking out facts before posting.
Posted by WernerS2
Posted by krlklar