A community of 30,000 US Transcriptionist serving Medical Transcription Industry
I was just thinking about the long-term ramifications of dismantling or changing Medicare so that it does not cover healthcare needs of the elderly.
One important one that originally came to mind was that many people who are now in nursing homes or assisted living won't be able to afford it. They will need to move in with their children unless the children can afford to pay the difference, of course. That will come out of the college fund for families in some case when there just isn't available space or the nursing skills necessary to care for those loved ones at home. Those in the Middle Class are stretched too thin already. I'm not sure what will happen to those below the Middle Class. The Upper Class will not see any change because they can afford to pay for the medical care, assisted living, and nursing home for their parents if the parents can't afford it.
I was trying to visualize the situation as it would have been had these changes been in effect when my parents were alive. I was unable to physically care for them. I don't have the nursing skills and I was working full time. Under the new proposed plan, they would have to move in with me anyway, because there is no other option. Their savings would not cover their healthcare expense.
My parents had been very careful their entire lives. They never splurged on anything, although they had a good life. Their dream wasn't as big as mine, to pass something down to the next generation when I die. Their dream was simply to have enough savings so that they could pay their own way. They wanted, of course, to pass the home Dad built on to me. and they did. Under the new plan, families won't be able to do that. Those with wealth will, but common, everyday folks will be eating up college funds and savings, selling their homes (if they can) and putting that toward healthcare needs instead. That's the Middle Class situation. I don't know what will happen to the poor. There will be no effect on the Upper Class.
I have always wanted to pass a little bit on to my own children and at the very least not be a burden, to be able to live independently and fairly comfortably on Medicare, social security, and a little savings. I'm going to have to rethink that plan.
;