“Many people think that, you know, if they’re seniors, that Medicare is paying for their health care. What’s interesting about seniors and what almost no one understands about Medicare is in 1965, when seniors paid for almost all of their health care themselves, roughly 10 to 12 percent of their income was spent on health care. This year, when seniors pay almost none of their health care themselves - Medicare pays 95 percent of the bill - that little 5 percent they pay now accounts for 20 percent of their income.”
But the not often discussed issue is the escalation in the cost of healthcare. For me, and I am a senior, that is the issue. My mother took about 3 days to die in a local hospital. They did little more than keep her sedated to ease her passing. The bill $50,000! But since it was Medicare the hospital “forgave” 80% of the bill leaving about $10,000 of which Medicare paid 90%. I just read about an all expense paid 200 day cruise that costs less than $50k. You talk about the Banksters. I submit that the “healthcare administrators” put these guys to shame. We also should never have decoupled the patient from his healthcare bills.
My Medicare pays only 80% after I pay the deductible first. I have to buy a supplemental policy to get additional coverage.