Cromwell letter: GOP health care

Stay healthy, Idaho. The GOP is tripping over itself to repeal the ACA. Costs and benefits of the new plan haven’t even been analyzed. Idaho’s delegation is largely mute on the matter — no surprise. They awarded themselves guaranteed health coverage ages ago. The burden is on their constituents.

According to the Census Bureau over a third of Idaho’s households earn less than $25,000 annually. The average cost of a family health care plan for three is $13,375 annually. For a family of four, $18,000 to $22,000 annually. Medicaid is a lifesaver for these folks but the CBO estimates that program will lose 25 percent of its funding by 2026 under the new plan. Sucks to be poor.

Furthermore, according to the NCPA retirees average a minimum of $240,000 in out-of-pocket health care expenses between age 65 and 90. excluding premiums/recurring hospitalizations. The EBRI is less frightening — they figure folks have a 90 percent chance of covering their expenses with $120,000 set aside for retirement health care expenses. Unfortunately, AARP estimates that 38 percent of Americans have saved zero. Worse yet — Medicare under the new health care plan will go broke by 2024 — four years sooner than under the ACA.

This story was originally published March 21, 2017 at 11:54 PM with the headline "Cromwell letter: GOP health care."