Health & Fitness
Seniors get free medical care?
Debunking a newspaper columnist's myth that "Americans over the age of 65 have free medical care ..."
On Monday a columnist in a local newspaper wrote, "Americans over the age of 65 have free medical care ..." He then went on to make some valid points about how a new generation of Americans appears destined to be poorer than their parents. While I didn’t disagree with his overall concern about the new generation, his glib – and flat-out wrong - statement about seniors having free medical care struck a nerve. If a columnist for a newspaper could be so wrong, what about the rest of the public?
Oh, for those not on Medicare who do believe that seniors have free medical care, stick with me here. Medicare Part A hospital insurance is provided at no additional premium cost to seniors, but with a 20 percent co-pay for those expensive hospital-based services. Medicare Part B physician and outpatient coverage carries a premium cost of between $96.40 and $369.10 per month depending on the senior's income, and also has a 20 percent co-pay for all services received.
Further, there are deductibles of $1,132 for Part A and $162 for Part B services. To cover the deductibles and the 20 percent co-pays, seniors purchase Medicare Supplement insurance at premiums that range from $122.75 to $526.93 per month depending on the coverage and the insurer chosen. For Medicare Part D prescription coverage seniors must buy a private plan that can have a premium ranging from $14.80 to $110.20 depending on the plan chosen.
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Social Security benefits are much more modest than many people realize. This year the average Social Security retirement benefit is $1,170 a month, or about $14,000 a year. The premiums for the above plans with the barest coverage total $234 a month, or 20 percent of the average benefit amount. With the insurance that gives blanket coverage for deductibles and co-pays, the total cost rises to $321 a month, or 27 percent of the average benefit. In addition to all that, with Medicare Part D seniors typically pay 30 to 35 perce t of the retail cost of their prescriptions.
Seniors get free medical care? There are people who believe that? Seniors certainly know better.
