The Folly of Medicare for All

The Folly of Medicare for All: Medicare is not free.

The Medicare payroll tax started in 1966 for private and corporate employers, their employees, and those who were self-employed at that time.  Federal employees didn’t start paying Medicare taxes until 1983.  Most retirees currently claiming Medicare have contributed throughout their lifetime, and monthly contributions continue to be taken out of Social Security benefits based on the previous year’s income.  At the end of last year, it was announced that 2024 Medicare monthly premiums were going up 14.5 percent, and the Medicare Part B deductible is also increasing by $30.  Early estimates indicate that the 2025 increase may be five to ten percent.  The cost of expensive Medicare supplemental policies increase as we age and don’t cover everything — especially costly prescriptions.