Are Boomers Turning 65 on a Collision Course With Health Care Reform?
Starting next year, baby boomers will be turning 65 at the rate of one every ten seconds. This means an average of 4 million New Seniors a year through 2030. They will join the 30 million existing New Seniors community who are already settled into this phase of life. One question being asked is what happens to Medicare now that the health care reform bill is beginning to kick in?
The current administration intends to cut $500 billion from Medicare. This is not a good sign since the largest generation in the history of the United States is ready to be eligible for this government program – one that has helped those over 65 since the mid-’60s. Already the popular Medicare Advantage, a mostly HMO plan and the choice for one out of five, is under attack and enrollees in some parts of the country could lose a third of their health care benefits.
Those with regular Medicare coverage will also be affected as government payments to participating hospitals and physicians will be cut by 30% over the next three years. So the boomers turning 65 may have a difficult time finding medical providers to cover them. And those already in the system may find fewer covered services and an increase in the premiums for the supplemental or gap plans that are designed to pick up the costs not included under Medicare.






