Medicare Sustainability

How medicare is funded and why it is even less sustainable than social security

Category:

Education

Tags:

• medicare
• social
• security
• medicaid

[afnypoo]

Medicare works well in Australia. We've had it since the 1970's. The problem with the system in the US appears to be the ridiculous salaries of specialist doctors and the costs of investigations! Also, the Australian Federal Govt uses its lobbying power (purchaser monopoly) to keep a lid on the costs of health services and all drugs (i.e. we pay less than you for the same drug) from pharm companies. I think a video on this as a counterpoint to catastrophising would be worthwhile. Cheers

[gamegeek2]

Um, how about give this damn program to everyone and ration care. Europeans pay less for their health entitlements and get better outcomes, for everyone, not just for the old and the poor.

[FortNikitaBullion]

I think given that SS/Medicare (and the entire US) are going broke, you should enjoy and abuse your body and get something out of it and reduce your chances of making it to 65, since you won't get the benefits of SS/medicare. Do extreme sports, eat whatever you like, do things you like that are risky or unhealthy, etc. You'll only lose your opportunity if you take good care of yourself.

[kingpomba]

Its true, in the USA and most of europe national medicine is forecast to be insolvent. The two exceptions are AUS and CAN. Why? Because they take in young, highly skilled migrants in areas of shortage. These people are selected, so, highly educated and productive. They also tend to have more children and most important, are young.

Aus and Can will remain solvent in the foreseeable future due to this.

In eur pop growth is down, in the US, whites will be a minority. Solution is raise birth rate.

[quinphillip]

@zZCosmicEnergyZz In practice having everyone pay their own retirement and health care means everyone pays more in the long run. (For the same reason that it would take more time and effort for everyone to grow their own food than to pool resources and have one guy with a tractor grow food for everyone.)

[williamjpiano]

@zZCosmicEnergyZz In Singapore there is such a system called Central Provident Fund. 13% of one's salary (if you are employed) is deducted and put into his CPF account (4% annual interest). Non-employed businessmen have no CPF. 

[1940ISA]

kindestchains: you are right....I paid into FICA FOR 40 YEARS and I expect to use every dime I paid into.....

[zZCosmicEnergyZz]

I might be understanding this wrong, but it sounds to me like we could alleviate some of the current/future deficit if we privatize Medicare and Social Security. That way each person would only be paying for their own retirement, disability, etc... Does this sound logical to anyone else?

[FortNikitaBullion]

Don't live to 65. Abuse your body, smoke, drink, eat junk food, then you won't have to worry about SS/Medicare going broke.

[jzf07]

@jzf07 Also what do you think of universal healthcare. You should do a video.

[jzf07]

Khan, when you show the projected medicare cost increases, population increase costs outstanding, is that based on a correlation/regression? If so isn't that projection completely absurd. I'm trying to think of reasons for medical cost to increase. It is plausible that people will get more unhealthy in the future and we will rely more on medication and doctor will order more tests , but is this something we can really forcast? I'm interested to hear your opinion. Thanks.