POSTED BY: Andrea
On Friday’s PBS News Hour, David Brooks mentioned some statistics about how much people pay into Medicare versus how much they receive in medical benefits. The numbers were so different that I found them hard to believe, so I looked around a bit online.
Here is an article quoting similar statistics:
“Consider an average-wage, two-earner couple together earning $89,000 a year. Upon retiring in 2011, they would have paid $114,000 in Medicare payroll taxes during their careers. But they can expect to receive medical services — from prescriptions to hospital care — worth $355,000, or about three times what they put in.”
Here is the original data:
The data were published by the Urban Institute. According the Wikipedia, the Urban Institute “is a Washington, D.C.-based think tank for nonpartisan economic and social policy research. More specifically, it collects data, evaluates social programs, educates the public on key domestic issues, and provides advice and technical assistance to developing governments abroad. The Urban Institute measures effects, compares options, shows which stakeholders get the most and least, tests conventional wisdom, reveals trends, and makes costs, benefits, and risks explicit. … Some of the Institute’s sponsors include The Atlantic Philanthropies, the Annie E. Casey Foundation, the Ford Foundation, the Robert Wood Johnson Foundation, the Henry J. Kaiser Family Foundation, the Charles Stewart Mott Foundation, and the Rockefeller Foundation.”
POSTED BY: Jeremy