MaggieD
DP Veteran
- Joined
- Jul 9, 2010
- Messages
- 43,244
- Reaction score
- 44,664
- Location
- Chicago Area
- Gender
- Female
- Political Leaning
- Moderate
fraud in medicare is lots of money, no doubt. but compared to the unfunded liabilities? suggesting cleaning up fraud to help plug that hole is like sending my three year old and his plastic bucket to dig the panama canal.
So cutting benefits and doctors pay without stopping fraud makes sense?
We should be SCREAMING!!!! about Medicare fraud. Social Security fraud. Any and all of it.
To say it's like sending your three-year-old to dig the Panama Canal is, I don't know, ridiculous?
that's a good point; my three year old probably has a chance of eventually completing the canal.
estimates vary, but my highly scientific method of going with the google search option that seemed to offer a middle-path gives me a result of an annual cost of $60 Billion in Medicare Fraud; which is by far and away the worst among the entitlements.
Medicare's undfunded liability? about $62 Trillion.
sooooo, we will for ease of my brain give medicare fraud an extra two billion, and factor.....
and if we were to magically solve 100% of Medicare Fraud overnight without spending a single dime on any fraud-reduction programs....
.... it would fix roughly one-tenth of one percent of the problem on an annual basis.
that's a good point; my three year old probably has a chance of eventually completing the canal.
estimates vary, but my highly scientific method of going with the google search option that seemed to offer a middle-path gives me a result of an annual cost of $60 Billion in Medicare Fraud; which is by far and away the worst among the entitlements.
Medicare's undfunded liability? about $62 Trillion.
sooooo, we will for ease of my brain give medicare fraud an extra two billion, and factor.....
and if we were to magically solve 100% of Medicare Fraud overnight without spending a single dime on any fraud-reduction programs....
.... it would fix roughly one-tenth of one percent of the problem on an annual basis.
Interesting article. There is soooo much room for reform. I personally know of someone (I handled her estate) who passed away in January. She was enrolled in the taxpayer subsidized Medicare Advantage Plan and paid little, if anything, for her meds. Her estate was worth over $1 million. All of her money was kept in tax-free bonds and annuities -- which, apparently, aren't counted when figuring income.
If they'd just close the damn loopholes!!!!!
that's a good point; my three year old probably has a chance of eventually completing the canal.
estimates vary, but my highly scientific method of going with the google search option that seemed to offer a middle-path gives me a result of an annual cost of $60 Billion in Medicare Fraud; which is by far and away the worst among the entitlements.
Medicare's undfunded liability? about $62 Trillion.
sooooo, we will for ease of my brain give medicare fraud an extra two billion, and factor.....
and if we were to magically solve 100% of Medicare Fraud overnight without spending a single dime on any fraud-reduction programs....
.... it would fix roughly one-tenth of one percent of the problem on an annual basis.
$62 Trillion? Your source please? Mine is Bloomberg as reported by Dartmouth: Medicare Spending Has Wide Regional Disparities, Study Finds - BusinessWeek $660 Billion if nothing is done before 2023.
Look, I agree with you that there's a massive funding problem. That does not in ANY way lessen the need to curb fraud with every ounce of strength we have. Unfortunately, Congress doesn't agree. WE should be furious. Right now, the Federal government doesn't even TRACK Medicare fraud. Medicare fraud - Wikipedia, the free encyclopedia
He's using the long term numbers.
They are in the ball park of estimates.
$62 Trillion? Your source please? Mine is Bloomberg as reported by Dartmouth: Medicare Spending Has Wide Regional Disparities, Study Finds - BusinessWeek $660 Billion if nothing is done before 2023.
Yeah lets go after "The Greatest Generation" the people who without we might not be here..Lets take away the entitlements they have earned............
There's another way people avoid the means testing.
They simply transfer their assets to their kids and/or other family members.
It's that simple and it's a rip off.
The greatest Generation received SS without ever having to pay in a dime. Fortunately, I can count on my fingers how many of them are still alive. So with such a small number of recipients, I wouldn't expect the cuts to amount to much. I'm guessing that the baby boomers are who we're really talking about.
as of 2008, according to that programs' trustees, medicares' unfunded liability was $74 trillion.
The projected date of HI Trust Fund exhaustion is 2029, 12 years later than in last year’s report, at which time dedicated revenues would be sufficient to pay 85 percent of HI costs.
Baby boomers were born 1946 to 1964, and I was born in 1946. Boomers are the offspring of the greatest generation, and haven't done much to have earned benefits like the greatest generation has. We did have Vietnam, but that is a pale comparison to WWII, not to mention unnecessary.
Actual warriors should get some benefits if needed, but I know some who abuse the system.
I get early SS, and Navy retirement, plus a small pension from my 2 civilian employers. It is more than enough to live on, but there is more. I have a wife getting early SS, and a good pension from the state of AZ. All totalled, we are doing well.
But, we did the work, lived within our means, paid for our own educations, paid for our children's education, and still saved a lot of money for our retirement.
The biggest difference between us and a lot of people is that we prepared for our future, instead of living too well in the present.
It is going to take suspension of employer pensions and reduction of SS payouts to get people to start thinking about saving for their future....
I know people who did not participate in employee savings accounts, even when the employer was kicking in 50%.
How stupid is that?
One of the things that we did do was to pay for the retirement (the SS part) of the Greatest generation. But hey, blood, sweat, and tears can never measure up to fighting in the Big One.
And yes, people should take advantage of employer backed retirement plans to the fullest.
Do we still have those?
The greatest Generation received SS without ever having to pay in a dime. Fortunately, I can count on my fingers how many of them are still alive. So with such a small number of recipients, I wouldn't expect the cuts to amount to much. I'm guessing that the baby boomers are who we're really talking about.
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