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Home Publications Blogs Beat the Press How Far Will $5 Billion Go In Covering Retiree Health Care?

How Far Will $5 Billion Go In Covering Retiree Health Care?

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Wednesday, 05 May 2010 05:05

That is a question that the Post should have asked in an article that reported on the Obama administration's plan to set aside $5 billion to help cover the cost of employer provided health care benefits for retirees who are not yet 65 and eligible for Medicare. The article tells readers that there are 2 million retirees under age 65 who are currently receiving benefits from their employer.

Since this $5 billion is the total amount available for the three years from 2011 until 2014, it means that there will be just under $1.7 billion available per year, or less than $900 per retiree per year. Health care costs for people in this age group average well over $10,000 a year, which means that this money will cover on average less than 9 percent of costs.

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...
written by izzatzo, May 05, 2010 8:11
Clear the gene pool of Darwinian aberrations,
Let retirees fend with market inspirations.

Natural selection cures what socialism can't,
Survival of the fittest is not for the faint.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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