Daily News Updates - Health Insurance News

Commonwealth Fund’s Most Excellent Healthcare Reform, Pt2 -- the Buzz

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So what are the other differences between Commonwealth and the candidates health insurance proposals? The largest difference centers around Medicare. The Commonwealth recommends extending Medicare to cover those from 60 to 64 years of age. Their estimated premium would be around $532 per month, covering Parts A, B and D. The current two-year waiting period for disabled would be eliminated. Those already enrolled would have the option to elect the “Medicare-Extra” plan. This would eliminate the supplemental coverage. A side benefit would be the great relief concerning retirement health insurance. Both the retiree and the retiror would benefit. Now here’s a main clincher. By taking advantage of the existing Medicare programs with their already low 3% overhead and the reduced payment rates appointed to providers, the premiums passed on for health insurance will be much cheaper. Estimates are $258 a month for individuals. Only $702 a month for families. Wow! That’s about 30% cheaper then our current employee health insurance plans offer.

Health insurance for all – what’s the cost? The “Commonwealth” report states that this plan will only raise health care costs a paltry $15 billion this year. This is only an increase of 1% above the current total estimate of $2.4 trillion. Compare this $15 billion increase with the $110 billion proposed by Hillary or the $50 – 65 billion suggested by Barack. At this point it’s not possible to close in on precise details, since the candidates have not yet stated the breakdown of their estimates. Of course, nothing can be proven rock-solid when rolling out such a monumental task and results may very. But imagine the synergy achievable if all these people could jointly team up. Health insurance for all at a small price.

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