Posts Tagged: premium
A health care professional tallies the cost of a patient's care. (Photo: Monika Wisniewska)
Not long ago, I had dinner with a group of friends from college. One of the big topics of conversation was Medicare, for which we’ll all be eligible in the next several years. (Farewell, callow youth!) And one of the biggest questions about Medicare was, “How much is it going to cost me?” Like private health insurance, Medicare has premiums, deductibles, and co-pays. These costs can – and often do – change from year to year. What you actually pay depends on your work history, income, and inflation.
Illustration: Quentin Lueninghoener, FairWarning
FairWarning: The formula has turned the firm, now named Exponent, Inc., into a publicly traded giant in litigation defense and regulatory science. It’s a go-to destination for major industries with liability problems – even as it is derided by critics as a hired gun whose findings are for sale.
Calpensions: In a new step to expose hidden debt, the Governmental Accounting Standards Board last week proposed that retiree health care debt or “unfunded liability” be reported on the face of government financial statements, not buried inside.
The rapidly growing cost of state worker retiree health care, a more generous benefit than received by active state workers, soon could be taking a bigger bite out of the state general fund than pensions. As if trading places, a new forecast expects the annual general fund payment for state worker retiree health care, now $500 million less than the payment for pensions, to be $500 million more than the pension payment in six years.