Originally Posted by AR
Typically, $100 a month for basic Medicare, about $125 a month for top drawer Medigap (no deductibles, no co-pays), and about $70 for a good prescription drug plan (no co-pays for generic drugs). All rolled up, a senior can usually get decent coverage for a bit under $300 a month. Not cheap.
Correct about the huge military budget. The other factor is that although we do pay federal and state taxes, they are simply not enough to cover an "entitlement" package for our citizens that is as comprehensive as we might like. And as I'm sure you know, one political party is marching in lockstep against any tax increases for any reason under any circumstances. Tremendous amounts of money flow to this party from insurance companies and other special interests that benefit from the status quo and would be hurt by change.
Our politicians are bought-and-paid-for pretty much across the board; they act in the interests of themselves and their big donors, and everybody else is on their own. It's a jungle out here, and only the fittest survive. In this context fitness includes getting an education, working a long career, understanding personal financial planning in the 21st century and making all the right moves, understanding the cost/benefit equation regarding children, and a bit of luck.
Everybody else is pretty much financially doomed.
Thanks AR, no politician in this country would dare suggest asking our senior citizens to pay £200 pp pm; the min state benefit is only maybe double that.
So who is 'ripping the knitting' as we would say ? the Insurance Companies; not just them alone.
Now getting back to Todd's OP; the poor exist on an income of $22K pa. Now the all-in-package for seniors costs $3600 pa which I know is relatively cheap.
So how does the under-65 working poor survive?
I think you guys are overdue a replay of the events of the 18th century?