November 3, 2013
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The day of reckoning is coming for the Affordable Care Act, widely called Obamacare. March 31, the day nearly every American is supposed to have health insurance, is fast approaching. And judging from the government’s February enrollment numbers, many uninsured people still have not signed up.
The Obama administration official at the New York City panel missed a chance to explain an important aspect of the law that gets to the “what’s in it for us” question.
The median annual household income for seniors is $34,000, and it’s just under $30,000 for people living on Social Security disability benefits. Looking at the stats another way, half of all people with Medicare live on annual incomes of $23,500 or less; one-quarter have incomes below $14,400. Both reports found that even with Medicare, high health care costs are eating up a substantial portion of those incomes as Medicare beneficiaries know all too well.