Do you think Medicare is in trouble because of the boomers retiring?
Will it be fine once the workers outnumber the retirees more?

Question

Total Medicare Beneficiaries
United States	49,435,610

Total IRS Gross Collections (in thousands)
$2,855,059,420+000.00

Annual growth in aggregate spending has averaged just over 3 percent since 2009, despite rapid enrollment growth due to the aging of the “baby boom” generation. On a per enrollee basis, Medicare spending has been growing more slowly than GDP per capita,4 and has been relatively flat since 2009—even falling very slightly, in nominal dollars, since 2011 (Exhibit 1). Both the magnitude and the duration of the slowdown in Medicare spending growth have no precedent in Medicare’s nearly 50-year history.

? · Accepted Answer

No, because Obamacare has made adjustments to Medicare and added several tiny taxes to get more money into the program. Medicare has made other changes to save money and preserve the program. The overhead in Medicare is very low but heatlh care costs keep increasing. The monthly premium has not increased because of these new taxes.

The boomers began to retire in 2012 but people pay part of the cost themselves for Medicare. The Part A costs came from their payroll tax while employed and they pay Part B and Part D each month in premiums. In addition, they buy Medigap policies from private insurance to cover the portion that Medicare does not pay.

? · Answer

I hurt my back and didn't want a handout so I never applied for SSI. Well it got worse and I developed other major health problems. I can't hold a job anymore and if I wasn't such a skin flint saving I would be in real trouble now because my last 8 years of work were as a Realtor, until the market went bust. I didn't pay into SS during this time and made me ineligible for SSI. It would help but I'm fine and I will collect regular SS soon. I let my pride hurt me, life is hard enough.

? · Answer

The trouble isn't because the Boomers are retiring. The trouble is those sixty million aborted American babies never got a chance to grow up, get a job, or pay taxes necessary to keep these social programs solvent. Right now, we have far too many older people-----and next to nothing being born, by comparison. It was bound to have an economic effect.

Anonymous · Answer

The extremely low workforce participation rate is also to blame. Many pwoplw who left the workforce went on disability. Since the requirements for disability were lowered, and almost a hangnail will get you a free paycheck. Once you are on disability for two years, you automatically go on Medicare,. SO we have fewer people paying in and more people taking out.

Spock (rhp) · Answer

Medicare is in trouble because the taxes were artificially set much too low to sustain the program.  this has been well known for decades but ....

Lovinit · Answer

Cutting Medicare would be a disgrace and is immoral.  Cut politician salaries.

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Do you think Medicare is in trouble because of the boomers retiring? Will it be fine once the workers outnumber the retirees more?

6 Answers