tag:blogger.com,1999:blog-8512362.post8969974067968284585..comments2024-03-10T13:59:19.230-04:00Comments on xpostfactoid: Timothy Jost and Harold Pollack weigh in on Medicare ExtraAndrew Sprunghttp://www.blogger.com/profile/17601269968798865106noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8512362.post-21484462475756309972018-02-28T21:19:31.226-05:002018-02-28T21:19:31.226-05:00Solve the problem. Pharma, hospital supplies, and ...Solve the problem. Pharma, hospital supplies, and service for fees.run75441https://www.blogger.com/profile/03790826995006015721noreply@blogger.comtag:blogger.com,1999:blog-8512362.post-52154619134592871662018-02-26T14:28:38.590-05:002018-02-26T14:28:38.590-05:00The CAP article does refer to expanding the ACA ta...The CAP article does refer to expanding the ACA taxes on persons making over $250,000. However, the existing taxes in this area raise about $34 billion a year. That is nowhere near enough to cover the gap if Medicare Extra will go to 50 or 75 million persons.<br /><br />And on the employer side.......the CAP article had several references to "maintenance of effort" contributions required of employers who no longer provide coverage.<br /><br />In addition to being wildly unpopular, these maintenance contributions will prevent us seeing higher wages.Bob Hertzhttps://www.blogger.com/profile/08889826739646491269noreply@blogger.comtag:blogger.com,1999:blog-8512362.post-56703367199814201412018-02-25T13:58:50.875-05:002018-02-25T13:58:50.875-05:00I did find the section on extra taxes, but it stil...I did find the section on extra taxes, but it still seemed skimpy.<br />The ACA extra taxes on the rich have brought in a total of $34 billion a year. That is nowhere near enough to fill the gaps in Medicare Extra if the Extra plan is going to cover 50 million.<br /><br /> The ACA did not tax capital gains at death, so this would be new revenue.<br /><br />Also, in the Medicare Extra plan there are several requirements that employers do a 'maintenance of effort' if they drop health insurance. I would not count on a lot of revenue from wage gains.<br />bob.hertzhttps://www.blogger.com/profile/09686373408419885558noreply@blogger.comtag:blogger.com,1999:blog-8512362.post-11912281705142017502018-02-25T08:48:19.827-05:002018-02-25T08:48:19.827-05:00The plan has a section on taxation, self-admittedl...The plan has a section on taxation, self-admittedly not very specific at this stage. https://www.americanprogress.org/issues/healthcare/reports/2018/02/22/447095/medicare-extra-for-all/ But the plan leverages reductions in tax expenditures from the employer tax exclusion, as well as anticipated extra tax revenue from wages rising in proportion to employers spending less on health insurance. My guess is that it would cost considerably more than the ACA, because it would be more successful at insuring everyone, but not radically more.Andrew Sprunghttps://www.blogger.com/profile/17601269968798865106noreply@blogger.comtag:blogger.com,1999:blog-8512362.post-16586071781448752722018-02-25T08:41:07.010-05:002018-02-25T08:41:07.010-05:00Thanks for your comments on Medicare Extra. I just...Thanks for your comments on Medicare Extra. I just read the plan plus Charles Gaba's detailed description, and I come back to the same comment that I have made to Gerald Friedman and to Jon Walker about their single payer plans.<br /><br />Which is, how the heck are you going to pay for it?<br /><br />The premiums in Medicare Extra are a per cent of income on a sliding scale, not unlike the ACA. A person making $30,000 a year pays $900 a year in premium, a person making $60,000 a year pays $6,000 in premiums, etc.<br /><br />I did a simulation assuming that the benefit of the plan was $6,000 a year to the insured, and we enrolled an equal number of persons in each income cell.<br /><br />If we enrolled eight persons, the benefit cost would be $48,000.<br /><br />The premiums collected would be $26,000.<br /><br />The Medicare Extra plan will need some big extra taxes to pay for itself.<br /><br />This is not a new dilemma. Without a value added or sales tax, the only place to go for new taxes is to employers or to higher income persons.<br />This may not work.bob.hertzhttps://www.blogger.com/profile/09686373408419885558noreply@blogger.com