Random stuff I find interesting and you may not.
Living to a ripe old age has its downsides. After entering their mid-60s and beyond, older people are at greater risk of experiencing various personal setbacks. Mobility limitations, chronic health problems, less physical energy, memory issues, and boredom are more likely. Spousal divorces and deaths result in higher numbers living alone and experiencing increased social … Read more
Many of us say that if we have to die, we’d like to die comfortably in our home. Luckily, hospice—a Medicare-covered model of gentle, holistic end-of-life care—is ready to help with that goal. Maybe. At age 78, my divorced father was diagnosed with Stage 4 colon cancer. He later admitted that he’d skipped getting any … Read more
Medicare and Social Security are the two largest federal government programs that are also growing the fastest. They are fiscally unsustainable as currently structured. Medicare consists of four parts which provide inpatient care (Part A), outpatient care (Part B), prescription drug coverage (Part D), and subsidies for seniors to choose alternative health insurance providers through … Read more
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor. President Joe Biden tweeted last week that he will be a “nightmare” for Republicans who dream of cutting Social Security and Medicare. With this statement, Biden showed that he’s either shockingly ignorant about these two programs … Read more
‘Taxing the rich’ and cutting ‘woke’ programs won’t come close to getting the job done. You cannot balance the budget just by cutting programs that you don’t like. You cannot balance the budget by booting layabouts off welfare, by reducing “waste, fraud, and abuse,” by eliminating foreign aid, or by repealing the grievously misnamed Affordable … Read more
When nursing home care uses up a widow’s savings, the federal Medicaid program will kick in and cover her bills for care. But it’s more complicated for couples. If one spouse moves into a nursing home and the bills start piling up, the person who is still living in their home can face serious financial … Read more
Is property owned in an LLC counted as an asset when applying for Medicaid? Yes. In order to receive Medicaid coverage of healthcare or nursing home care there may be limits on your assets and income. This can depend on the state in which you live, your age, and the type of coverage you’re seeking. … Read more
Health care and what to do about it, particularly the high cost of prescription drugs, is a perennial debate in our country. But money expert Clark Howard has long said that you can’t control what Washington does about health care. All you can control is how you handle the expense of health care and prescriptions … Read more
With the pandemic, there has been a rise in the use of virtual appointments for patients seeking health care. A new study by Tufts Univeresity researchers, however, suggests that for many older and chronically ill patients, telehealth appointments may be most effective when they augment in-person health-care visits rather than fully replace them. The findings … Read more
With outpatient hip and knee replacements on the rise, Geoffrey Westrich, MD, and colleagues at Hospital for Special Surgery (HSS) launched a study to analyze trends and compare complication rates of patients who go home the same day they have surgery versus those who spend one or more nights in the hospital. Analyzing information from … Read more
“Those who have been in Part B since 2013 have seen their premiums increase 62%. Overall inflation during the same time period is up only 13.5%.” In 2021, most individuals with Medicare Part B paid $148.50 per month. In 2022, their monthly premium jumps to $170.10 per month – an increase of $21.60 per month. … Read more
Medicare announced on November 12 that it would apply big rate hikes on Medicare premiums next year. The monthly Part B premium will rise by $21.60, or nearly 15 percent, to $170.10 from $148.50 this year. This increase is more than double the projected $10 boost included in the annual report from Medicare program trustees … Read more
There is also a Part D penalty…. The Part B penalty is a permanent charge every month There are many rules associated with Medicare enrollment, but here are a few of the basics: Medicare Part A, which covers hospital insurance, is typically free of premiums for individuals who have worked at least 40 quarters of … Read more
Democrats have made a living recently with political attack ads fallaciously accusing Republicans of secret plans to destroy Medicare and Social Security. In one famous TV ad, then-Budget Committee Chairman Paul Ryan was depicted as shoving an elderly woman in a wheelchair off a cliff. Well, Republicans may want to reprise that ad — and … Read more
The 2021 Social Security and Medicare Trustees’ annual reports are 138 days late and counting. The law requires the Board of Trustees of Social Security and Medicare to submit to Congress annual reports on the financial condition of these vital programs by April 1. This requirement has been in place since 1967. The board now … Read more
COVID-19, which seems likely to morph into COVID-21 and so on, is involved in many factors affecting home-based care. It forced everyone to spend time at home. Once there, we liked what we saw, and have been pouring enormous sums into fixing up and expanding our homes. Home-centric life isn’t going to change anytime soon. … Read more
If you have health insurance but no primary care physician, the process for getting a physical can be a bit complicated. Whether or not you get your health insurance through an employer, you’ll probably have to find a practice in your area that is in your network. Then you’ll have to find out if it’s … Read more
As a libertarian, I don’t care if couples have zero children or 10 children. But as an economist, I’m horrified that big changes in demographics are going to lead to fiscal crises thanks to poorly designed entitlement programs. Simply stated, modest-sized welfare states are sustainable if more and more new taxpayers enter the system to … Read more
Government spending is out of control. In March 2021, the Congressional Budget Office (CBO) projected that federal government spending in fiscal year 2021 (which began on October 1, 2020) will come to at least $5.8 trillion, with tax revenues of $3.5 trillion, and a resulting budget deficit of over $2.3 trillion. The total federal accumulated … Read more
A $1.9 trillion additional relief package is expected to pass this week. This is in addition to already unprecedented spending. The US went deeper into debt than other countries this past year. The chart above shows the fiscal balance, spending minus revenue, as a percent of GDP for some rich countries, the advanced country average, … Read more
With COVID-19 ravaging the country and government pandemic lockdowns devastating our economy, the national debt has understandably slipped to the back of many Americans’ minds. But the federal government continues to fall deeper into the red at a dramatically accelerating rate. Free-market economists interviewed by FEE warned that we can’t continue like this forever without … Read more
The public debate on taxes, spending, and deficits consists mostly of lazy conventional wisdom that is largely incorrect. While detailed historical data on spending and taxes can be found at the Office of Management and Budget (OMB) website, and the 10-year and 30-year budget projections are available from the Congressional Budget Office (CBO), many lawmakers, … Read more
Shutdowns and bailouts are unsustainable for 18 months to two years. We need a new and better set of strategies, and we can’t put it off any further. In mid-April, 69 percent of 2,394 registered U.S. voters polled said it is “necessary” to develop a coronavirus vaccine “before we reopen the economy.” Politicians are beginning … Read more
When Drs. Dan Erickson and Dr. Artin Massihi of Accelerated Urgent Care held a press conference last week, their goal was to galvanize policymakers to reopen the economy. The California-based hospital owners may have uncorked a bigger story. During their long discussion with reporters, Dr. Erickson noted he has spoken to numerous physicians who say … Read more
The decade that just ended saw a period of uninterrupted economic growth. In the decade to come, we’ll pay for squandering it. Since the so-called Great Recession officially ended in the third quarter of 2009, the United States has enjoyed 42 consecutive quarters of solid if unspectacular economic growth. That’s the longest run of uninterrupted … Read more