The post What does the Congressional Budget Office research show about premium support? first appeared on SEONewsWire.net.]]>In 2013 the Congressional Budget Office (CBO) researched how premium support, as suggested by House Speaker Paul Ryan’s “A Better Way,” would impact the federal budget, beneficiaries’ payments and choices. The results of their research revealed that under the two different proposed premium support plans, that both would “reduce federal spending for Medicare net of beneficiaries’ premiums and…
This comes as no surprise, as the billionaires among us are always looking for new challenges, new ways to alter our perceptions of reality.
In the December 1, 2013 New York Times, an op-ed entitled, “On Dying After Your Time,” Hastings Center President Emeritus, Daniel Callahan, questions the wisdom of this initiative. I can only reinforce his reservations and add additional perspective.
We are all interested in the concept of immortality or, at minimum, dramatically extended life expectancies. We fantasize about it. We envision ourselves as vital, intelligent beings with added decades to enjoy our lives. Dr. Callahan raises red flags about this initiative and the possible social and economic implications.
Depending on your perspective (i.e. your age), you may agree or disagree with his observations about extended healthy lifetimes. He worries about the disruption of our economy if older workers continue to work, rather than leave the workforce in their sixties. Unless jobs become vacant on a massive scale, there will be no jobs for younger individuals entering the workforce.
He worries about the cost of medical care. He points out that, according to the Congressional Budget Office, the cost of Medicare expenditures alone will consume 5.8% of GDP in 2038 – compared to 3.5% in 2013. Many would agree that this cost will become “unsustainable.”
Perhaps more interesting from the individual perspective is the focus on quality of life. While we all want to live an enriching, full life, he points out that “adding years to a life doesn’t necessarily make it any fuller.”
Doctor Callahan acknowledges the contribution that medical science makes when it enables younger individuals to enter old age in a healthy condition. He concludes, “We are not, however obliged to help the old become indefinitely older. Indeed, our duty may be just the reverse: to let death have its day.”
We deal with this issue on a daily basis as we help individuals prepare their Advanced Health Care Directives. We talk about quality of life and termination of life. If Calico does its work successfully, these discussions may change markedly in coming years.
So, will Sergey Brin and Larry Page, Google Founders, some day be vibrant octogenarians trekking tirelessly in Nepal? Or will they be living in a luxurious assisted living facility where they need physical assistance every time they want to trek down the hall to dinner?
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The CBO stated that while the effects of immigration policies on the federal budget are uncertain and complicated especially when extended well into the future, the estimates make assumptions regarding the legislation’s stated increases in nonimmigrant and immigrant categories, together with projections on the number of persons who may obtain legalized status under the bill’s proposed provisions.
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The post CBO Estimates $175 Billion Savings if Senate Bill Enacted first appeared on SEONewsWire.net.]]>
Covering more than 60 million individuals, Medicaid is the nation’s primary health insurance program for low-income and high-need Americans.
(Related: GOP Gov. Rick Snyder Supports Michigan Medicaid Expansion)
Major federal funding is allocated by the Affordable Care Act’s expansion of Medicaid to a national eligibility floor of 138% of the federal poverty level (FPL). The Supreme Court upheld the ACA but limited the federal government’s ability to enforce the Medicaid expansion to low-income adults, effectively making implementation of the Medicaid expansion a state choice.
(Related: Legal and Financial Resources for People with Alzheimer’s Disease)
The report below examines the latest Congressional Budget Office (CBO) projections for federal Medicaid spending over the 2013-2023 period. CBO’s budget projections, also referred to as “baseline” projections, reflect CBO’s best judgement about how the economy along with other factors will affect federal revenues and spending under the existing laws.
(Related: The Doctor’s New Prescription: An Elder Attorney)
It is important to understand the CBO baseline estimates because they are the basis to evaluate the federal cost and coverage implications of proposed federal policy changes. Federal budget and federal deficit reduction have ignited an active debate and discussion. The fiscal effect of any federal policy changes will be measured against the CBO baseline.