medicare bill passes congress

[mellowyellow]

I have not thoroughly researched it myself, so<br />not sure how effective it will be... however I<br />do like 1 part of the bill: (source MSNBC.com)<br />medical savings accounts<br />"The bill would allow people with high-deductible health insurance policies — at least $1,000 a year for individuals, $2,000 for couples — to shelter income from taxes. Individuals younger than 65, employers or family members would make pretax contributions equal to the deductible, up to a maximum of $2,600 a year for individuals and $5,150 for families. After 65 years of age, earnings and distribution also would be tax-free, provided the money is used for health expenses, including insurance premiums, prescription drugs and long-term care. Otherwise, a 10 percent penalty would apply."<br />being self employed, health insurance is a small <br />fortune for me. every little bit helps and over<br />$5K pre-tax $ is pretty huge.

 

[KennyKenCan]

Re: medicare bill passes congress

Its about time!

 

[ndemge]

Re: medicare bill passes congress

we've had medical savings plans for years.... "flex spending accounts"... pre-tax $ that can be used for any medical expense<br /><br />what is different for this bill? is it for medicare people that are retired and don't have this option through an employer?

 

[Link]

Re: medicare bill passes congress

I think being self employed just make you more aware of the true costs of things. I haven't looked into the bill yet either but it sure as been causing stir!

 

[rolmops]

Re: medicare bill passes congress

The little I read about it said something about competition and private companies delivering services.<br />A red light started burning in my head because I remember how some years ago the HMO's came into being and cheaper health care was promised. This as a reaction to the Clinton healthcare plan.These same HMO's will soon be in medicare and control it and before too long they will rip you off like they do to us younger ones now.

 

[dyna176]

Re: medicare bill passes congress

WebMD is putting this stuff to use already. same as FSA- flexible spending acct. you calculate what you feel is a given amt you will spend, you put it back tax-deferred, and turn in rcpts for checks written to the biller. just have to use it all, or lose it ea yr. this covers 2 parts in our fsa, dependant care(babysitter, school) & healthcare deductibles. not a bad idea<br /><br />from what little i understand, the new bill will lead to prescrptn "managers" who will bicker for lower prices on the freemarket basis of all employees within their structure. i guess it leads to privatization, but i guess the gov is wanting to figure out another way to handle mcare. can't say i blame them. but what do i know

 

[SoulWinner]

Re: medicare bill passes congress

Maybe this interest you guys:<br /><br />GOVERNMENT<br /><br />"In the dead of night, at 3:00 a.m. Saturday morning, the House began voting on HR 1, the Medicare reform bill which includes that new prescription drug benefit. Members, as always, were allowed 15 minutes to vote 'yea' or 'nay'. After the 15 minutes were up, Democrats and a small band of conservative Republicans teamed up to provide the 218 votes needed to BLOCK passage of the bill! A HUGE victory for limited-government conservatives who saw the bill as nothing more than an extension of LBJ's liberal and hugely expensive Great Society program. Oh, well. Back to the drawing board boys. Same time next year? <br /><br />"Ah, but not so fast Buckaroo. GOP leaders decided NOT to close the vote after the prescribed 15 minutes. Instead, they left the vote open for an additional THREE HOURS and mounted a furious arm twist-a-thon in an attempt to get two Republicans to change their votes and obtain the number necessary for passage. It is believed that NO vote has EVER been kept open that long. In the end, they had to call in the Big Dog, fresh from his trip to merry ol' England. According to Richard Cohen of National Journal, President Bush personally laid on the carrots and sticks to targeted House Republicans who had initially voted 'no'. Ultimately, he got the two votes he needed when Reps. Butch Otter of Idaho and Trent Franks of Arizona flip-flopped and voted for the bill. I'm betting they both got a LOT more than 30 pieces of silver for THIS one! What does it say about the merits of this bill that it required such extraordinary machinations to obtain passage in the House? And what will the Senate do with it now? Will Ted Kennedy and Hillary Clinton DARE to mount a filibuster against a bill that the AARP wants so desperately? And if so, do they have the 41 votes to block it?" --Chuck Muth <br /><br />I don't know what to think of it yet either, but it doesn't sit right in my gut.

 

[roscoe]

Re: medicare bill passes congress

Its a sad day. Create a huge handout for almost everyone, when less than 20% need it, then make 40% of americans pay for it, for the next 200 years. Net result, we will all pay more for less.