07-03-2019, 11:15 AM
(07-03-2019, 10:09 AM)Aquapod770 Wrote: Sounds great, but I don't see how that can happen.
Essentially, you would replace your insurance premium with a payroll tax. Since Medicare is, on average, more efficient than private insurers it would presumably be a lower amount than what you are used to as an insurance premium.
Medicare, right now, is paid for out of a payroll tax (you pay FICA, a combination of SS/OASDI of 6.2% and HI/Medicare of 1.45%, which is also matched by your employer much like insurance premiums now are paid in part by employers). So, essentially, if you opt-in then your HI portion would increase, but you would no longer have an insurance premium to pay.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
