By: Nicole Nelson
Medicare could be changing and changing soon. Some people are very enthusiastic about the idea, others, not quite the case. Washington (specifically the Senate) has been weighing options about expanding Medicare to people aged 55 to 64. Although this seems like a great idea, a large amount of people in these age ranges may not be eligible, and those who are might be paying more than expected. The original idea of expanding Medicare coverage started when the health care debate started. This step to expand Medicare was to appease the liberal push of a “public option” for health insurance as part of the reform. Currently, Medicare rates range from $110 to $353 a month. These premiums depend on the individual’s income. If Medicare was expanded, it would be expected that the premiums would be around $633 a month totaling about $7600 annually. The reason for the difference in premiums is that Medicare as it is now is federally subsidized. The expansion would not be federally subsidized until about 2014, about 5 years from now. Although this seems to be very expensive, if someone does qualify for this expansion, they probably should take advantage of it considering it is very hard for people in this age range to get health insurance. Again, another problem arises with cost because about half of the uninsured people aged 55 to 64 have incomes below $29,000. So although this plan may sound terrible in some aspects and great in others, I believe it depends on the individual and whether or not they can afford this, or need this plan at all.
Medicare could be changing and changing soon. Some people are very enthusiastic about the idea, others, not quite the case. Washington (specifically the Senate) has been weighing options about expanding Medicare to people aged 55 to 64. Although this seems like a great idea, a large amount of people in these age ranges may not be eligible, and those who are might be paying more than expected. The original idea of expanding Medicare coverage started when the health care debate started. This step to expand Medicare was to appease the liberal push of a “public option” for health insurance as part of the reform. Currently, Medicare rates range from $110 to $353 a month. These premiums depend on the individual’s income. If Medicare was expanded, it would be expected that the premiums would be around $633 a month totaling about $7600 annually. The reason for the difference in premiums is that Medicare as it is now is federally subsidized. The expansion would not be federally subsidized until about 2014, about 5 years from now. Although this seems to be very expensive, if someone does qualify for this expansion, they probably should take advantage of it considering it is very hard for people in this age range to get health insurance. Again, another problem arises with cost because about half of the uninsured people aged 55 to 64 have incomes below $29,000. So although this plan may sound terrible in some aspects and great in others, I believe it depends on the individual and whether or not they can afford this, or need this plan at all.