Medicare Is Doomed -- Save the Patients

Medicare “as we know it” is doomed. It never had a chance. What was originally intended as a vital safety net for seniors has become a massive boondoggle that is collapsing under its own weight. In 1965, Medicare started as a medical savings program for retirees. The government would take a small amount out of your paycheck each month for forty years. This would be placed in a virtual lockbox with your name on it, and would grow at some nominal but safe rate, say three percent. At retirement, the average American would have well over $100,000 in today’s dollars in a virtual individual Health Savings Account to cover old age medical costs. Things did not work out that way at all. Here is why the Medicare program was and is doomed. Doomed by Congress at the outset Soon after Medicare started, the government was collecting billions. Congress saw a great opportunity and took it. They broke open all those lockboxes, took the cash, put it in the General...(Read Full Article)

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