Friday, May 13, 2011

Obamacare has ruined Medicare

What do these projected changes in aggregate Medicare spending mean for individual retirees? Actually, that’s not clear. It’s much easier to say how much Medicare spending will change than it is to say what these changes will mean in terms of access to care. The table below shows the changes in Medicare spending for individuals of different ages:
  • For someone turning 65 and enrolling in Medicare this year, the present value of projected Medicare spending was reduced by $35,588 the day Barack Obama signed the health reform bill.
  • For 55-year-olds, the projected reduction in Medicare spending is $62,315 per person.
  • For 45-year-olds, the loss totals $105,004.