Medicare Going Bankrupt

The leading cause of bankruptcies in the U.S. are medical bills. Coupled with the headlines “Medicare Going Bankrupt,” the question is: whose going bankrupt first?  Health care and Medicare have been in the news and will be even more so as the political season kicks into high gear. Don’t let Medicare’s budget problems became yours.

Medicare Going Bankrupt

Medicare Going BankruptThe headlines that state “Medicare Going Bankrupt” are not accurate. Medicare is divided into three parts: A, B, & D. Medicare Part B, which covers doctors and outpatient procedures, is covered by participants’ premiums and general revenues from the government budget. Medicare Part D, which covers drugs, is the same. They can never run out of money. Medicare Part A covers hospital expenses. Payroll taxes finance Part A. The Government Accountability Office report says that Part A will not be able to pay 100% of its bills by 2030 at present estimates. It will only be able to pay 86% of expenses which is a problem that can be easily solved in a couple of ways. Medicare going bankrupt is the wrong issue.

Rising Health Care Costs

Rising cost is the issue.  Medicare benefits will be paid for. In the past, there were three ways to pay for the program. They are still the same. Increase taxes, increase the premiums, reduce benefits or a combination of all three. This year the premium for Part B was increased from $104.90 to $121.80 for new members. The Part A deductible was increased from $1,260 to $1,288. The Part B deductible was increased from $147 to $166.

You Pay It

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Medicare costs will go up in the future, like all health care costs.   The bottom line is you will be effected by what the government does or doesn’t do about Medicare. More of the cost for your health coverage will be placed in your lap, so it becomes even more important that you have the most efficient supplement to your Medicare. You need to manage your health care costs more efficiently, even if government doesn’t.

Don’t be a victim who is at the mercy of Congress or Medicare. Find the best coverage at the price you can afford before you are forced to search. Protect yourself from future Medicare benefit reductions with a more efficient supplement—one that covers those co-pays, deductibles, coinsurance but at a lower premium.  FREE Quote 402-614-3389.

What Our Clients Are Saying About Omaha Insurance Solutions

Tom V.

I was very impressed with the knowledge Chris has of the Medicare system. He explained the different options available to me thoroughly and overall, the process went very well. I would recommend Chris without hesitation to anyone trying to make decisions in regard to Medicare.

George & Maxine I.

My wife is getting ready to retire and She was getting so frustrated with all the agents just wanting to sell their companies’ plans. I went to Chris when I retired so I gave him a call to set up an appointment for my wife. Chris took the time to present all retirement plans. he explained all the pros and cons of each plan and let us decide on the plan that best suited her needs. My wife, Maxine, was very happy with the choices Chris presented & explained and put her at ease about the plan choice. Chris and his team are Very Very good and we will recommend Omaha Insurance Solutions to anyone who is getting ready to retire. Chris and his team do an excellent job of getting through the Medicare Mayhem!

Judy M.

I was referred to Chris by my financial advisor. I met with 2 other agents who just wanted to sell me ‘their’ plan. Chris took the time to explain the Medicare Advantage plans and the supplements with all their ‘letters’. He gave me peace of mind, knowing that I will probably have the best health insurance coverage I’ve ever had. I thank Chris for being a big part of this first chapter in my retirement!