If you're on Medicare but still working full time...

[OilemFirchen]

will your taxes go up under MfA?

Asking for almost all of my friends.

[IADEMO2004]

1. Get your 1040 pencil paper and click the link.

https://www.sanders.senate.gov/download/options-to-finance-medicare-for-all?inline=file

[OilemFirchen]

3. So... maybe.

Very helpful.

Thanks!

[IADEMO2004]

9. You are too polite. Six page plan vs. bill on future President's Desk who knows the cost.

The Patient Protection and Affordable Care Act was a baby step better that no one was completely happy with but greatly helped this household when we needed it most. No happy ending here, the 2010 election, or the poor souls in states that didn't expand Medicaid. The fight goes on and I have no idea how or where it will go.

[wasupaloopa]

2. If you do not have any employer plan you are ok. The only problem is when you have both Medicare

and an employer provided health insurance plan and I am not sure if that causes tax issues but Medicare will not pay in that case.
I worked and am on Medicare. I had no tax issues.

[OilemFirchen]

4. Not asking about taxes as they are now.

I'm asking if my taxes will go up if I'm on Medicare (only) and working full time - should MfA become law.

[wasupaloopa]

6. In my opinion nobody knows what MFA will look like. Presidents do not write law

[Hoyt]

5. Somebody is going to have to pay for covering 50 - 60 million uninsured/underinsured, picking up

deductibles and coinsurance (that Sanders and Warren say will be eliminated in their proposals), dental, hearing aids, vision, etc.

Something tells me the promised taxing the rich -- but not middle class -- ain't gonna cover all that AND college debt, free college, child care, bolstering Social Security, deficit and debt reduction, jobs, infrastructure, climate change, etc.

Don't it sound great? Oh, and the guaranteed income.

Seriously, folks really need some of this stuff, or help -- but I want a candidate who is honest about what it is going to cost young workers, middle age workers, retired, etc. I think we deserve that and not some BS that it is only going to affect those with high incomes and $50 million in wealth.

[emmaverybo]

10. +1000

[GulfCoast66]

11. Your not counting the largest cost!

My employer provides health insurance for over 50,000 employees. At over 5K a pop. Multiply that times all the people on employer backed plans in the nation and you start to see the folly of the plan. At least in this mans opinion.

We all want Universal Healthcare. I just think Medicare for all is a non starter. Continue to grow the now popular ACA. Not too far down the agenda is making for profit health insurance illegal. France used several nonprofit yet private run insurance companies and has the best healthcare in the world.

[Voltaire2]

7. Perhaps.

Assuming that the funding is primarily via a payroll tax increase, the details of which are not available, all of your friends who are over 65, still working and for some reason on medicare instead of their employer's insurance program would have to pay this payroll tax increase.

They would not have medicare premiums, medicare advantage premiums, co-pays (except for prescriptions), or deductibles. There would be a real comprehensive prescription plan instead of the bullshit that currently exists. They would have dental, vision, and long term care coverage as well. None of which are covered by medicare.

Their total out of pocket expenses for health care would be limited to the prescription plan co-pay ($5 per if I remember right) and the payroll tax increase.

According to a Kaiser Family Foundation study published in 2018, the average Medicare beneficiary paid $5,503 in 2013, including premiums and out-of-pocket costs for covered care, as well as out-of-pocket costs for things like dental care and long-term care, which are not covered by Medicare.

Source: https://www.medicareresources.org/faqs/how-much-does-the-average-medicare-recipient-pay-out-of-pocket-for-medical-expenses

[OilemFirchen]

8. My friends and I are all self-employed.

We've paid both the employer and employee's share of SS / Medicare, in some cases, all of our lives. I have since 1987.

What you (per the Kaiser Foundation) are suggesting is even worse than an income tax increase. Don't you think that those already on Medicare should be exempt from further taxation, especially on Social Security? When is enough enough?

[Voltaire2]

12. Almost everyone on Medicare is not

in your situation. However, without the details of the payroll tax increase, whether your employee share of that would be more than the savings we can only guess at.

Also you still pay payroll taxes now, so why would you expect to be exempt?

[OilemFirchen]

13. No doubt that's true.

FTR, I actually do take issue with continuing to pay into Medicare and Social Security, but that's for another discussion. I'm just attempting to discern whether or not that contribution will increase, whether or not my income taxes will increase, or whether or not those of us who are now receiving Medicare will be cut any slack.

[Voltaire2]

14. So please consider the full financial

impact, not just taxes. That is one of the talking points that the right is using to scare people. If your taxes go up by 1000/yr but your total health cost go down by 2000, you are ahead by 1000.

The costs have to be shifted to taxes to go to a true universal system.

[elocs]

15. Don't worry about Medicare for All because if you're on Medicare now

it probably won't become law in your lifetime, if ever, and no candidate who supports it will explain how it realistically has a chance to become law.