Back to the debate that was discussed in the blog post entitled “A Generational Battle Awaits.” While Obama says he is cutting funding to Medicare to get rid of waste and the excesses of private insurance companies, it seems many seniors and Dem. Rep. Betsey Markey in her address to a Colorado town hall believe that as she stated: “There’s going to be some people who are going to have to give up some things, honestly for this to work.” Who those people are the Representative did not say, but we can pretty much tell it will be those benefiting from Medicare. Yet, to counter these viewpoints, the secretary of Health and Human Services stated in an address: “Health Insurance reform will protect the coverage seniors depend on, improve the quality of care and help make Medicare strong.” What can be seen from these opposing views is that the Obama administration wants to ensure that Medicare stays around, but Medicare will need to be changed, in some cases for the worse, to continue to benefit all of those who are a part of it.In a slight side note, there is a great PBS Frontline website and video entitled “Can You Afford to Retire.” It paints a bleak picture of retirement right now, but shows the truths that need to be addressed.
Tag Archive for 'Medicare'
And now to add to yesterday’s blog, as a recent businesswire article, “Americans Dramatically Underestimate Health Care Costs in Retirement, First Command Reports” states that retirees need to show some foresight and put extra money for the rising costs of healthcare and clear deficit in Medicare and Social Security spending. So ensure you and your financial advisor discuss and plan on having enough money for rising healthcare expenses and the rising taxes required to fund the government stimulus packages.
