Get ready for the Medicare crunch

[Karmadillo]

Just a reminder that while the maniacs wage war with our money in Iraq and Lebanon, the war on the American people continues unabated.

http://today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2006-07-31T145633Z_01_N17283073_RTRUKOC_0_US-COLUMN-INVESTING-JULY31.xml&archived=False&src=073106_1201_INVESTING_comment_%26_analysis

WASHINGTON (Reuters) - Despite all the talk about the shaky future of Social Security, its potential shortfall isn't the biggest risk for future retirees. They should be worrying about Medicare instead.

The government's health insurance plan for retirees is on a crash course with the realities of an aging population and an increasingly expensive medical system. It's projected to go bust in 2020.

That's 20 years earlier than the Social Security fund is expected to become insolvent, and -- boomers: are you getting this? -- only 14 years away.


The Employee Benefit Research Institute is reporting that today's typical Medicare-covered retired couple needs $295,000 in the bank just to cover health care throughout retirement. And that's assuming that they have Medicare to depend on.

The bottom line? That retirement savings plan you're contributing to every month is not just for green fees and gifts for your grandchildren; it's for doctors' visits and medicine. It makes sense to save and invest more than the minimum, and think about earmarking some of your money for health care.

more...

[acmejack]

1. They expect us to just do ourselves in.

Large numbers of us will, when the meds run out and the doctors visits are no longer within reach. Burden your family or take up that pistol and put it to your temple. They will legalize assisted suicide soon enough, it is so much neater, plus there is probably a profit to be made in there some how.

[Benhurst]

2. The World's Only Superpower

All the money in the world for death and destruction -- not enough for decent health care.

What a DUMP!