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08-07-2012, 09:26 PM
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Quote:
Originally Posted by buggyone
This is a reason to have a supplemental policy like those offered by AARP. Medicare covers about 80% and your supplement covers the other 20%. Medicare is a good safety net but does not cover everything. Yes, those will still be offered.
Speaking of that nursing home. Are you expecting Medicare to be picking up the whole tab on that, too? Guess again. That is why long term care insurance is being sold. Maybe that would have been a good investment some years ago when it was more affordable than when you are old.
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AARP's Financial Gain from Healthcare Law
"Washington, DC – Ways and Means Committee Members Wally Herger (R-CA), Dave Reichert (R-WA) and Charles Boustany (R-LA) today released “Behind the Veil: The AARP America Doesn’t Know,” a new report exposing the conflict between AARP’s drive for profits, the best interests of its members and the organization’s tax exempt status. The report, which is the culmination of more than a year-long investigation, concludes that AARP stands to make upwards of one billion dollars over the next ten years as a result of the new health care law through the sale of their endorsed-Medicare insurance products.......
As a result of the new health care law, the Obama Administration estimates more than 7 million seniors will lose their current Medicare Advantage plans, resulting in a massive migration of seniors to Medigap plans. AARP is the nation’s leading provider of Medigap plans and has a contract in which AARP financially gains for every additional Medigap enrollee.
Based on low, mid and high-range estimates, AARP stands to financially gain, over and above the millions of dollars they currently receive from United, between $55 million and $166 million in 2014 alone as a result of new Medigap enrollees stemming from the health care law’s cuts to MA, which AARP strongly endorsed.
Under the midrange estimate and under their current contract, AARP’s financial gain from the health care law could exceed $1 billion during the next 10 years. This is because AARP will see their royalty payments increase as seniors are forced out of MA plans and buy AARP Medigap plans instead."
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