It's not just seniors (and soon to be seniors) who should be worried about Medicare ending

[fried eggs]

My parents are in their late 50s and I've now entered the 30s. I don't know how common this is, it's clearly not common in republican circles, but I feel an obligation to make sure my parents are provided for if they're unable to take care of themselves. Even before this whole "end-medicare" debate started, I often felt anxiety because my parents haven't really set aside any funds, joking that they'll die way before it matters.

If medicare were to end, it would lead to the financial collapse of an entire generation of young adults who would spend their last dimes to help pay for healthcare for their parents before ending up in the same boat.

[jody]

1. Good point and just think about the problem China faces and other countries. nt

[HockeyMom]

2. "Why can't I cover my PARENTS under MY insurance?"

My adult 20 something daughter at the time actually called up HER insurance company when my husband and I were out of work. We were in our 50s then. They told her only spouses and children, not parents.

Makes you think. If parents can cover their children, why can't (adult) children cover their parents? You know, my daughter's insurance company rep even said she never thought of that.

[salin]

3. Not only that, but additionally how many thousands of dollars more a yr should you save

to compensate for the extreme cuts?

I am between the age of you and your parents. I, too, have a parent who will likely need health care assistance. Fortunately she is grandfathered in (at least for now). Yet I am the child in the family who is in close contact. Someone needs to oversee such care, and be involved. Undoubtedly, while there will not be the same direct costs, the indirect costs (time taken off to provide care and services) and reduced wages.

At the same time, the proposed fixes by the Romney Ryan camp - will require tens of thousands more (possibly in a year) across the proposed extreme changes to social security and medicare. Somehow in just over fifteen years that much more has to be earned and saved/invested. In this economy, while knowing there is a period of diminished earnings in the future to help take care of a parent.

My point is it isn't just the costs per parent care - it is also the new burden of how many more thousands of dollars a year that need to be earned and set aside to prepare for your own retirement. And since there is no discussion around that we can only speculate: 10,000 more a year set aside? 20,000 more a year set aside (and how does one earn that in this economy.)

I don't know how to boil that down into a 30 second sound bite - but the reality is frightening, and that we aren't discussing this is a national scandal, imo.

Projections based on Ryan's budget (since he is the rw budget guru) on how much more someone who is 25 needs to save a year to compensate for the loss in social security and medicare benefit. How much more does someone who is 35 need to save a year? How much more for someone who is 45, and one who is 55? And think of how steeply that annual amount climbs the closer one is to retirement.

Of course some think that there shouldn't be retirement until after 70 or older. That is a really easy position to take when one already has enough (inherited or otherwise) to assure for an annual income on interest, once one is in one's sixties. Guessing that isn't a large proportion of the population.