Annual medical costs by age

[Andy Lang]

So where can I find annual health care costs by age?

You need to know this to undertand why you need advance funding for retiree medical and maybe even for active medical plans.

[Intents]

This sounds like a proprietary fishing expedition. Isn't there something in our ethics code about misleading innocents?

[Dr T Non-Fan]

Another "consultant" wanting free information, so he can charge someone else for it.
If I didn't know him better, that is.

Most actuaries worth their salt know this already. Somebody needs to be belittled for his supposed actuarial expertise.

I predict a rant about Medicare not being pre-funded.

[Andy Lang]

My estimate of the age 65 total medical care cost in today's dollars is ~$15k.

[Most actuaries worth their salt know this already.]

So I showed you mine, now you show me yours.

[Andy Lang]

So at $15k a year at age 65, rising maybe 5% a year by age (conservative), and 8% a year by year after 2002 for medical inflation (conservative), how many years does it take before annual medical costs are higher than your SS payments, assuming the maximum?

And, what is the PV of the medical payments as compared to the PV of the maximum SS payment?

Wouldn't it be nice to have Medicare and SS and retiree medical actuarially advance funded as ALL DB plans must be, including post-retirement medical ones (even more in fact)?

Actuarial science 101 and you are taking the course here and not in any exam from the SOA, who has a vested interest in making sure that SS and medicare do not work properly, certainly not as all other DB plans do, and maybe even in privatizing the whole shebang.

Hey that stuff is the private insurance industry's business and we must not ever have gubm't control of the financial markets, especially when we do such a great job in the private insurance and annuity markets.

Wuddyu, a commie pinko socialist librul or sumpthin'?

Wuddya, don't believe in capitalism and free markets or sumpthin'?

Wuddya, not a patriot or somethin' and like Osama Bin Laden or the Axis of Evil or sumpthin'?

Wuddya, not believe in owning guns and in murderous abortions and the breakdown of the family and free sex and lesbians or sumpthin', bunkies?