Medicare Malady #69: Who Doesn't Get Hurt Under The Medicare Deal?
No one. Medicare may be
for people over 65, but a compromise on Medicare legislation that
The New York Times reported this week will affect
Here's how, according to
Heritage Foundation experts:
Medicare recipients. If
the compromise becomes law, more than 4 million current retirees
stand to lose all or part of their existing private drug coverage,
which is often better than what Medicare would provide under the
boomers. For those in
their 40s and 50s who will someday enter the Medicare program,
there's a good chance that the drug coverage many of them had
worked for most of their careers will not be there come retirement.
Why? Because the compromise will encourage companies now providing
retiree drug coverage to drop this expensive benefit and let the
government pick up the tab.
Generations "X" and "Y". For those in
their 20s and 30s, the new federal obligation will become
increasingly expensive: Early in the summer, lawmakers claimed the
Medicare bills would cost "only" $400 billion over the first 10
years. Less than a month later, the Congressional Budget Office
revised the costs to $425 billion for the House version and $432
billion for the Senate's.
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