The “Single Payer Option” refers to a proposed health care program supported by President Obama and the presumptive Democratic Presidential Candidate, Hillary Clinton. Under this Program the Government of the United States would pay for all medical care, ending the need for private health insurance and premiums. The private health insurance companies would most likely provide only supplemental coverage for health care not covered by the Government Program. This could also be referred to as “Socialized Medicine” where all medical and hospital cost is paid for at a nominal cost through Government Regulation with subsidies derived from Taxation. Medicare for people over 65 is a version of this with Part A (Hospital) being free for qualified participants and Part B (Medical Services) being paid for with a nominal monthly amount, however, only covering 80% of the costs. Private insurers typically would cover the additional cost through a Supplemental Policy paid for by the client.
The Obama Administration has released its latest financial review of the “Medicare Trust Fund” and it is not good news for seniors. Under existing law, the trustees announced that the fund would be depleted in 2028, two years earlier than projected in last years report. The trustees reported that the Fund outlook had deteriorated because of changes to their assumptions and expectations. Medicare actuaries now expect higher inpatient hospital usage, as well as lower payroll tax revenue resulting from slower growth in wages. It is now anticipated that “Automatic Medicare Cuts” required by law could take place for the first time in 2019. Donald Trump, the presumptive Republican presidential candidate has said he will not cut Medicare benefits to seniors. Hillary Clinton, the presumptive Democratic presidential candidate she would reduce health care costs and ask the wealthy to contribute more.
Ryan and GOP members of Congress are pushing to repeal ObamaCare but to keep Obama’s Medicare cuts. What are the cuts? In 1965 when Medicare was enacted, it barred the government from interfering in how doctors treat patients. Since then the protection has eroded slightly, however, ObamaCare guts it entirely! According to the Congressionnal Budget Office, MediCare is being cut by exactly the amount needed to subsidize the ObamaCare health plan buyers on the exchanges, $800 billion over the next decade. How does this work? ObamaCare rewards “quality” hospitals with MedicCare” bonus’s” for the “lowest spending” on senior patients. What does this mean for seniors? It means longer wait times for diagnosis and treatment and faster patient turnover time in the hospital, both of which can lead to higher patient death rates. In fact, the journal of Health Affairs reported recently that 231 hospitals rewarded with MediCare bonus’s for low spending per senior provide inferior care. More money for less care results in a conflict of interest between patients and doctors. Trump, on the other hand, vows not to cut MediCare beneits to seniors.