THE OPERA AIN'T OVER 'TIL THE FAT LADY SINGS....

SENATORS JOSEPH LIEBERMAN (CT) AND OLYMPIA SNOW (ME) TOOK THE "HEAT" for Senator Harry Reid (NV), the Senate Majority Leader, with respect to scuttling the extension of the Medicare Buy-In to age 55. This may be a wise decision in the moment. Senator Lieberman stated that while he favored the idea of the Medicare Buy-In in principle, the current Medicare system is not set up to handle such a large influx of new Beneficiaries, especially when cutbacks in Medicare Budget expansion are written into the current Healthcare Reform Bill. There is indeed merit in this statement.

The opinion already expressed in this Blog is that the extension of Medicare to age 55 would be an excellent thing. For this to be done rightly, several things would have to be assured: (1a) the Medicare Budget would have to be increased significantly, (1b) the Medicare Part-B Premiums collected would have to be put in a "lock box" so that those funds remain available strictly to Medicare and are not used elsewhere in the Federal Budget, and (1c) funds already "stolen" from Medicare and Social Security for use by the Federal Government for other purposes would have to be returned; (2) Medicare Providers (physicians, hospitals, etc.) would have to experience a significant increase in remuneration from Medicare to compensate for the already low reimbursement rate and to compensate for the loss of income that would inevitably result from many Baby Boomers relinquishing high-premium private insurance in favor of Medicare.

At 1am this morning the Senate Democrats succeeded in obtaining 60 votes (58 Democrats and 2 Independents) to end debate on the Healthcaare Reform Compromise Plan (in which Medicare extension to age 55 is excluded). There are good and bad things in the Bill, it will be voted up or down Tuesday morning at 7am (will the Fat Lady appear?), and then assuming the Bill passes, it yet must go back to the House for confirmation. The House has many Fat Lady's and no shortage of Rats and Snakes....

Highlighting the good things in the Bill are: (1) mandatory national participation in either private or semi-private or public insurance programs, which will reduce the catastrophic costs of medical care born by the government by those refusing to obtain insurance, who yet take advantage of Federal Law requiring hospitals to treat everyone; (2) elimination of coverage exclusions such as pre-existing conditions and waiting periods [it remains a mystery that the private sector hasn't already done this long ago by offering Riders to provide such coverage]; (3) federally compensating the private sector and/or extending Medicaid so that poorer Americans may afford insurance.