Speaking to Seniors
Rep. Tim Walz, a Democrat, met with senior and elder care providers at SeniorPlace on Monday to discuss the impact of the economic downturn and rising costs of health care prices for senior citizens.
"It's not the Great Depression, but you're going to see there are going to be some pinches," Walz said, after listening to a report from former federal reserve chairman Alan Greenspan about the current economy.
Doug Kolbe is a retired teacher who pays about $14,000 in health care costs. It's not a high price for him, but seniors are paying more money for other health services.
He said people are caught in health insurance companies with pre-existing conditions, such as past illnesses. In Kolbe's case, he battled prostate cancer.
In order to save on health care costs, Kolbe took his wife out of his health care policy. But now, health care costs are starting to creep up.
"There are all kinds of good ideas out there that can change," he said. "It's just that we are probably people who are willing to take the lead and say we do need a change and this change isn't going to take away all of your rights and it's going to lower costs.
Lee Graczyk, public policy director for the Minnesota Senior Federation, said they're seeing opportunists in the health care business trying to take advantage of seniors not only in health care, but in the housing market.
Graczyk said he's getting calls each week about seniors having to sell their homes because they can no longer afford to live there. Because the housing market is in shambles, Graczyk said opportunists are coming in and purchasing homes at the lower costs.
"There's no regulation that's going to prevent them from doing some rather dubious things," he said.
Before asking for input in the round table, Walz said he was disappointed in the economic stimulus package just passed in Congress. The $150 billion package will send rebate checks to 130 million households in May ranging from $300 to $1,200.
"It fell far short what I thought needed to happen," he said.
Walz added that the bill provides rebates for senior citizens with $3,000 in qualifying income, including social security income. It was also a step up from the president's first proposals, which would have gone to taxpayers earning $70,000 or higher.
One of the cuts, proposed by President Bush, is $556 billion in Medicare and Medicaid over the next 10 years.
"That's going to be totally rejected by the budget committees by both the House and the Senate," Walz said.
