The House Budget Resolution for 2018 includes Premium Support (PS), which will destroy Medicare.
From the National Retirees Legislative Network
http://nrln.org/congress.html#/59
5,400 NRLN advocates have signed the NRLN petition to President Trump. This is your last reminder, the deadline is Wednesday, Aug. 16. Click here to sign the petition to protect Medicare and Social Security.
The House Budget Resolution for 2018 includes “Premium Support (PS)”, if the Budget becomes law PS will:
Cut $487 billion from Medicare by shifting the cost to current and future beneficiaries - likely increase the costs for Medigap supplemental policies – eliminate Medicare Advantage Plans in 5 years - raise the eligibility age for Medicare from 65 to 67 - expand income means testing until 25% of beneficiaries pay higher premiums for Medicare Part B and D – privatize Medicare and leave Medicare A & B to die quickly – be more costly than Medicare and would create more chaos than the ACA, only HMO’s would survive, and - expose the big secret that “Premium Support” will only work if billions in federal subsidies are paid to insurance companies.
In order to get the “Premium Support” pending disaster off the table (before the Budget vote) and in order to protect Social Security we proposed the President negotiate a Grand Bargain that takes “Premium Support”, Medicare and Social Security off the table by asking both political parties, unions and employees to help:
That a portion (2%) of company tax reform gains be used to increase company payroll tax.
That a portion (0.5%) of individual tax reform gains be used to increase individual payroll tax.
That Maximum Taxable Payroll Tax Earnings be increased from $127,000 to a Minimum of $300,000.
That the President and Congress Declare war on health care costs.
The Medicare and Social Security Trust Fund Trustees say that a 3.47% Payroll Tax funding increase beginning in 2017 would actuarially preserve Medicare and Social Security for the next 75 years (2092). The NRLN realizes “Grand Bargain” negotiating may result in a shift of the % increases among the two categories or lower or higher earnings being taxed. As long as everybody has some skin in the game and the resulting net effect gains 3.47%, our country wins.
COLA, eligibility age, new benefits and other disputed subjects are out, bargain a deal those affected will see as fair. NRLN members write us about extending the eligibility age, saying… a company won’t keep me on roll 2-3 more years, my boss won’t pay me until I’m eligible, people over age 65 have up to 50% more chronic diseases and can’t work, savings will be gone if I have a 3-4 year earnings gap, who will hire me?…
Please use the opportunity of the NRLN’s petition to have your voice presented to President Trump. Either click on the link in the first paragraph or go to http://nrln.org/congress.html#/59 to sign the NRLN’s petition to President Trump. Thank you if you are one of the 5,400 who has signed the petition.
Bill Kadereit, President
National Retirees Legislative Network
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