Tag: "Medicare"

Can We Stop Pretending That the Trustees Reports Are Good News?

In previous years, the 2015 Social Security and Medicare Trustees Reports were usually released in the spring, albeit on a Friday or perhaps around a holiday when little attention would be paid.  This year, the reports were released yesterday, months later than usual, with little fanfare, except for a few media outlets praising the findings.   The Huffington Post […]

If the Trustees’ Reports Hold Such Great News, Why Where They Not Released Until Now?

Because the news in them is not that great.  Consider: Social Security (OASDI).  Total unfunded liabilities into the infinite horizon are $24.9 trillion.  (To learn more about unfunded liabilities, read the NCPA piece by Laurence Kotlikoff.)  This includes Social Security, Supplemental Security and Disability.  Including the “trust fund” as a liability (and it is since it […]

Worse than I Imagined (Part II): Medicare

When I retired, Medicare became my primary health insurance, fully covered by American taxpayers (and federal debt-holders), while Anthem/Blue Cross became my secondary health insurance, fully covered by the University of California.  I will never have to spend a nickel of my Social Security benefits or inflation-adjusted defined retirement income on my health insurance. But […]

Scaring Seniors, Revisited

Rep. Paul Ryan (R-Wis.) released his proposed 2013 budget yesterday and before the ink was dry, the left was attacking it like vultures on a carcass. Ryan was being portrayed as the bogeyman of seniors’ concerns about Medicare. As part of his effort to control an out-of-control bureaucracy, his plan includes: Increasing the Medicare eligibility […]

Unrealistic Medicare Projections are No Joke

New on the blog!  A corny economics joke: “How many economists does it take to change a light bulb?”  Answer:  “One, if you assume a ladder.” If you fail to see the humor, this joke reflects the sometimes dubious assumptions in economic theory when making predictions and forecasts.  The latest example is the just-released Medicare […]

Are Looming Taxes Scaring Small Business?

According to the latest ADP jobs survey for June, the private sector's contribution to the job market is smaller than expected. (See the WSJ article, “,”)  Yep, looking at the bare-bones private sector, minus Census jobs (which do quite well of padding the employment numbers), the results are somewhat troubling.   Large and medium-sized businesses have added jobs, […]

The (CLASS) Act: It Looks Like a Duck and Quacks Like a Duck, but…

For those of you who have not had the opportunity to pick up a copy of the 2,074-page ObamaCare law (H.R. 3590) for some light reading, the National Center for Policy Analysis (NCPA) has published a short, two-page analysis on the new long-term care entitlement program discussed in the law (see “The New Long-Term Care Entitlement“).

Seniors, Be Prepared…

A few weeks ago, my 73-year-old mother received a letter from her internist announcing his retirement from the medical profession.  Being that the man is 78 years old, this comes as no suprise.  However, he had originally planned on working a few more years until he realized that Medicare reimbursements were not enough for him to stay […]

New “Fees” on Investments…and Not from Mutual Funds

Beginning in 2013, the recently passed health care reform bill will impose new Medicare  taxes on unearned income for single filers with adjusted gross incomes of  $200,000 a year or more and joint filers with AGIs of $250,000 a year or more.  The new 3.8 percent will apply to any rent, royalties, dividends or capital […]

Who Will Care for Your Parents?

The terms “filial responsibility” and “filial support” refer to an adult child’s obligation to render care to aging parents.  Before Medicare and Social Security, children were obliged to meet their filial responsibilities by filial support laws.  These laws gave children the primary responsibility in caring for elderly parents – neglecting to do so could yield […]