Business & Finance Business Insurance

20 Years Can Change The Medicare Landscape

This is a question that is on the minds of many Americans who are currently paying money into Medicare with each paycheck and still are being told that they may not receive this coverage when they reach age 65. It is scary to think that those who are paying into Medicare now may not have any insurance when they reach their golden years. After all, the golden years will be much less golden without health care coverage.

While there are no guarantees the government continues to reassure us that the Medicare system will not cave but realistically the only way it can stay afloat is if we all keep paying into it. Essentially we are paying now for those who are currently on Medicare and then as we age it is our children who will be paying for this health coverage for us. If you think about it with the rising costs of health care it is impossible to predict how much we will have to pay in for health care 20 years down the road.

Even with all the shortcomings of the Medicare system, it will continue for years to come, but might be less effective as it can and should be for the senior population that will more than ever come to rely on it for much of their health care. While it is a fact that benefactors have to pay an extra premium for Medicare and the associated prescription plan that is available, it is still better than trying to survive without it.

The dilemma that many elderly and baby boomers will likely experience will be the extra health care payments coming out of their social security payments, making the fixed income recipients spend more for health care and the benefits become less and less every subsequent year. This can be a frightening scenario for many who will try to maintain an adequate, somewhat happy and healthy lifestyle on less funds including their social security benefits at age 65.

The government officials have and will continue to stress that we have nothing to worry about as far as benefits we will receive at age 65, they will not reveal exactly where the money being paid in is actually going to. They are asking for blind trust from those who are still contributing to this system pre age 65. A decline in these benefits could easily see a notable decline in the American senior citizens lifespan and not very good for global PR.

You might also like on "Business & Finance"

Leave a reply