Healthcare Reform

Healthcare Reform Provides Insurance in Name Only

After a tough couple of years for former Federal Reserve Chairman Alan Greenspan and in an era when the phrase affordable health insurance seems like an oxymoron, it is time to provide some credit where credit is due.

Chairman Greenspan hit the nail on the head in his recent book The Age of Turbulence.

The following are Greenspan’s comments regarding entitlement spending and the healthcare system:

The bottom line in the success of all retirement systems is the availability of real resources at retirement…The financial arrangements associated with retirement facilitate the diversion of resources that make possible the consumption of goods and services after retirement, but


Berwick and Healthcare Reform

Obama's recess appointment of Donald Berwick to head CMS does not bode well for the supply-side of the U.S. health care system.

Berwick is not only incredibly cynical and bearish on the U.S. health system, he seems to believe that the source of remedy for what ails the system will come entirely through rationing demand.


Raising the Social Security Retirement Age

In a recent interview, U.S. House Minority Leader John Boehner suggests that raising the Social Security retirement age to 70 will help avoid a collapse in the entitlement system.


Healthcare Bills Contain Expensive New Long Term Care Entitlement

There is a new long term care entitlement in the current healthcare reform bills in both the House and Senate. The long term care provision is known as the Community Living Assistance Services and Supports Act ("Class Act"). The Class Act is projected to run a surplus during its first few years of existence, but will be in deficit within 10 years. This budget projection excludes the present value of the program's future liabilities--in other words, the type of accounting that any private...

Annuities Figure Prominently in the Pending Retirement Income Security Debate

Industry analysts view retirement income security as the hot-button issue that will be on the table once the healthcare reform issue has been resolved. Several recent surveys indicate how unprepared most Americans are when it comes to retirement income: A recent BofA Merrill Lynch survey revealed that 45% of those between the ages of 55 and 75 had not calculated how long their assets would last. Another survey by the Employee Benefit Research Institute indicates that 70% of people entering...