As discussed my previous blog post in July, both Social Security and Medicare are facing serious financial troubles in the near future as a result of Baby Boomers aging into the programs and rising healthcare costs. Medicare has specifically had a bleak outlook for the next few decades as reports in recent years indicated the program will face insolvency if its obligation to provide benefits to a growing pool of enrollees is not balanced by an increase in tax revenues. Trustees of Medicare reported Thursday that cost-cutting measure in The Patient Protection and Affordable Care Act of 2010 have pushed Medicare’s impending insolvency off another 12 years. Because of these provisions in the law, Medicare’s hospital insurance trust fund should remain solvent until 2029. Both the 75 year shortfall for the hospital fund and the projected costs of the Medicare Supplementary Insurance program were further brought down. The trustees warned that though these projections are an improvement over last year’s estimates, additional reforms will be necessary for the programs to be financially sustainable.

Healthcare Reform Extends Medicare’s Solvency by 12 Years

As discussed my previous blog post in July, both Social Security and Medicare are facing serious financial troubles in the near future as a result of Baby Boomers aging into the programs and rising healthcare costs. Medicare has specifically had a bleak outlook for the next few decades as reports in recent years indicated the program will face insolvency if its obligation to provide benefits to a growing pool of enrollees is not balanced by an increase in tax revenues. Trustees of Medicare reported Thursday that cost-cutting measure in The Patient Protection and Affordable Care Act of 2010 have pushed Medicare’s impending insolvency off another 12 years. Because of these provisions in the law, Medicare’s hospital insurance trust fund should remain solvent until 2029. Both the 75 year shortfall for the hospital fund and the projected costs of the Medicare Supplementary Insurance program were further brought down. The trustees warned that though these projections are an improvement over last year’s estimates, additional reforms will be necessary for the programs to be financially sustainable.

“Men are 24% less likely than women to go for their routine check-ups.” Men skipping doctor’s visits hinder preventative healthcare efforts. This in turn could lead to higher healthcare costs for the Baby Boomer generation. Preventative efforts for your health can treat a medical condition before it becomes a problem. Going to your routine doctor’s visits will boost your chance of detecting a medical condition when it first arises. If you are able to detect the condition early on, you will increase the likelihood that the condition will be treatable.

Men, Quit Skipping Your Check-Ups!

“Men are 24% less likely than women to go for their routine check-ups.” Men skipping doctor’s visits hinder preventative healthcare efforts. This in turn could lead to higher healthcare costs for the Baby Boomer generation. Preventative efforts for your health can treat a medical condition before it becomes a problem. Going to your routine doctor’s visits will boost your chance of detecting a medical condition when it first arises. If you are able to detect the condition early on, you will increase the likelihood that the condition will be treatable.

On May 13, 2009 the trustees of Medicare and Social Security released a report detailing the impending insolvency of our nation’s two biggest entitlement programs: Medicare in 2017 and Social Security in 2037. Projections have pushed these bankruptcy dates up from the previous report’s estimates of 2019 for Medicare and 2041 for Social Security. What can we do about this?

What About Entitlement Reform?

On May 13, 2009 the trustees of Medicare and Social Security released a report detailing the impending insolvency of our nation’s two biggest entitlement programs: Medicare in 2017 and Social Security in 2037. Projections have pushed these bankruptcy dates up from the previous report’s estimates of 2019 for Medicare and 2041 for Social Security. What can we do about this?