George and I are both eligible for medicare this year…for those overseas, Medicare is the govt insurance for disabled and elderly. You may have heard for “medicare for all” being touted as the way to go by the democratic candidates for president.
I thought (until today) that Medicare was “automatic and the govt gave the insurance to you”…..wrong.
There are several “parts ” to medicare…parts A, B, C, and D are the best “known” yet we are woefully ignorant until we age into the system. Oh we know one of them is for the hospital and one is for a doc but beyond that most of us have zero clue.
Here’s a small recap of the parts.
Part A = hospitalization insurance…the govt pays up to 80% of each bill.
Part B = doctor’s visits, urgent are visits, and outpatient treatments of various and sundry types are paid at 80%.
Part C = supplemental insurance…pays for whatever you sign up and pay for (like cancer insurance, or something to pay for that 20%)
Part D = Prescriptions paid at 80%
Part E = Vision and dental pays up to 80%
Please note everything is paid up to 80% of the total bill for services. YOU pay the 20% left over.
Now I always thought that these insurances (A,B,D) were free…..silly me. For the privilege of receiving Medicare I get to pay $135.00 for parts A&B combined (must get both when you turn 65), and $30.00 a month for part D. I need the dental and vision (cataracts are making me go blind) and that will be another $30.00 a month.
Let be me overly frank and show you what that does to my monthly retirement check.
I receive $891.00 a month. The govt will reduce my monthly checks in August. They will automatically deduct for each type of insurance I signed up for…that will be a grand total of $195.00. So my check, that they fully expect me to live on should George die, will be a grand total of $696.00.
Now, don’t get me wrong…I am GRATEFUL that medicare will provide me the ability to receive medical care. I really, really am. I just wonder how they justify my $696.00 a month as being a “living wage”.
I understand that when deciding whether or not to “waive” my fees for the insurance the government adds George’s Social security payments into my “living wages”…but HE only makes 1900.00 a month with HIS Social Security…..and HE will ALSO have $195.00 deducted from HIS monthly benefit.
And once they deduct BOTH fees for the Medicare parts ABD and E for BOTH of us, we will be BELOW what the government considers “poverty level”.
I KNOW there are people far worse off then we….but this is going to put a serious crimp in our “retirement”. There has to be a better way.