Regarding Medicare. It is great for recipients , but it is a major cause of the debt. Tax revenues for it from payroll taxes have never been enough to pay for the program.
Garry: Solution, raise the tax. Payroll taxes only cover Part A (Hospitalization). Part B is paid for by the participant, generally monthly, out of their retirement benefit. Part D is entirely paid for by the recipient, with government subsidy kicking in when one falls into the doughnut hole. Those subsidies are, at best minimal, as prescriptions cost the recipient more than when insurance was paying.
The "debt" is itself in question. Recently, there was an article in Bloomberg Business Week, where a Ivy League economist, pointed out that the deficit, (debt over reserves & projected revenue), was overstated, because our Gold Reserves are valued (by law), at $44.50/oz. Last time I looked, the market price of Gold, per Oz was over $1200....
Real reason for opposition to Obamacare, is that business doesn't want to pay their employees healthcare, nor do they want to pay their employees enough to afford private insurance. This is across the board, although more vocal from the Small Business community.
As you well know, a good accountant or statistician can spin wonders with figure, to obtain the desired conclusion.
Heath Insurance Rates are not controlled by the Federal Government, but by the Insurance Carriers / State Regulators. That's across the board, in every product line, based on risk. In Jersey, there is little difference between the rate charged by the largest health insurer, for similar private plans and ACA plans. The difference is that if you had a pre-existing condition, they will not write a policy for you or your family. Obamacare takes on all comers. It's much like the JUA (High Risk) auto insurance scam that was running here in NJ when I came here. You were automatically placed in the high risk pool if you were new to the state, irrespective of your record, insurance experience , age, or creditworthiness. Agents received a hefty commission for placing you in the JUA, vs. placing you in a "market plan".
After I went on Medicare, I had to find health care insurance for my wife, until she was eligible for Medicare. This was before Obamacare was enacted. The private insurance rate, was $700/mo, for 60% coverage with a $2000 deductible, with an out of pocket limit of $10,000. Once they learned of her existing condition, (RA), they declined coverage. I was able to place her in a RR Union plan, with a $750 deductible, 60% coverage, and 10K out of pocket max for $400/mo. Not for nothing, this was pretty much paying for catastrophic coverage, as she really never met the deductible. When the ACA came in, she applied, and found the rate higher, and less coverage than the Union Plan. Prescription coverage was not an option, fortunately, Walmart honored the discount cards, and most of her meds were not name brand.
It may interest you to know, that the
Gentleman from Kentucky, who recently failed to repeal the ACA in the Senate, receives the preponderance of his contributions from the
Insurance Industry, Financial Industry and the Real Estate Industry. His bio indicates he is a career government operative, who never worked in the private sector, so has little knowledge of what other people have to do to live.
This is not meant to be political. I live in Jersey, and statistically, We are supposedly well off. However, I pay more than most others when it comes to Insurance, Utilities, and Property taxes, not to mention food and healthcare. We live on a budget, and I'm constantly looking for a better deal than what I have. I don't know how people less fortunate than we are can manage. I really get upset, when folk from "cheaper living" states complain about paying taxes, and helping others.