The hospital insurance is available at no additional costs to you, as you have already paid for it as part of your social security taxes while you were working.
To learn more about health care, see Fighting The High Costs Of Healthcare.
Even if you will not retire at age 65, you may still want to consider signing up for Medicare, as it may cost you more if you sign up later.
For additional information on Medicare, see SSA Publication No. 05-10043.
you and/or your insurer
Andy Kessler: Email exchange with Milton Friedman
comment – Posted by: Yaser Anwar | November 17, 2006 at 05:21 PM
Unless consumers have access to robust information about pricing and performance, mechanisms like HSAs and HDHPs wonâ€™t really impact cost so much as finance it, merely guiding how the money flows.
Even Regina Herzlinger, a renowned conservative Harvard-based healthcare economist, challenged Prez Bush on this. â€œHealth savings accounts are being touted as a way to control costs, and I very much doubt that claim.”
Individuals with high-deductible insurance plans (HDHPs), which are mandatory with health savings accounts, are â€œmore likely than those with traditional medical coverage to have difficulty paying their medical bills. 49% of consumers with deductibles above $500 per year wound up with outstanding medical debt, vs. 32% with regular coverage.â€ (source: WebMD)