The effect of Baby Boomer retirement on Medicare

Statistics show that there are nearly 76 million baby boomers in U.S population. Baby Boomers are people who were born between 1946 and 1966. The most interesting thing about baby boomer is that they are retiring now at a very high rate. Nearly 10,000 baby boomers are becoming eligible to enroll for Medicare everyday! This means that there will be an impact on the United States economy due to this influx. Every single citizen of U.S is eligible for Medicare benefits on attaining 65 years old.

Baby boomers are characterized by their contribution to theU.S economical growth. They are the most active generation in U.S history that helped grow the economy.

There are two scenarios that are likely to occur due to baby boomer retirement

  1. The baby boomer retirement may have a negative effect on Medicare due to the influx of beneficiaries that is likely to overwhelm the Medicare fund. If this happens, then the quality of Medicare as it is today will be affected downward. Medicare is funded by social security pension, railroad retirement pensions, monthly premium and other contributions by Medicare beneficiaries.
  2. Since baby boomers were active people, chances are that they had prepared well for their retirement. If this is the scenario, then it means that the quality of Medicare services will not be affected by baby boomer’s retirement. They will not also have a problem funding their own medical expenses since they are likely to have prepared early before they retired.

The effect of Medicare on Baby boomer retirement

The Medicare plan will never be the same. This is because a bigger percentage of the United States population is and will continue enrolling for Medicare benefits until 2030. Here are likely effects of the Medicare plans

Reduced Medicare funds

Many baby boomers who are now retiring, were contributing every month toward Medicare funding. Their retirement will mean a reduced amount of money toward Medicare funding since they are no longer working. What this means is that Medicare is likely to run into trouble of funding in future which will affect the services.

 Increase premiums

The most likely thing the government will do is to increase premiums and to revise Medicare benefits. This will have an effect on the new Medicare beneficiaries since they had not expected such a thing to happen. This situation will have an effect on the health of the baby boomer as they grow older.

Medicare quality will be affected

There will be an increase of Medicare beneficiaries. This will increase pressure on the selected medical providers. If adequate measures will not be taken early by the government, it will affect the quality of Medicare services to be offered.

Not all baby boomer will be able to afford their own medical cost. It is good to familiarize yourself with medicare to be on safe side. Here is basic information about Medicare that you should know.

Medicare is a program offered by the federal government of US to provide medical care to people from 65 years old and above who are US citizens or permanent residents. Others who enjoy this care but are less than 65 years old are people with disabilities or total kidney failure.

How to enroll in Medicare

You are automatically enrolled in Medicare if you receive social security benefits or if you or your spouse enjoys railroad retirement benefits. You are also eligible if you worked long enough for the government and you were contributing the taxes during your working days. However, you may choose to turn down the offer since it is not compulsory.

Parts of the Medicare

  • Part A- also called Hospital insurance. It cares for inpatient services in the hospital with selected home and hospital care expenses. It also covers skilled nurse care expenses. You are not required to pay a monthly premium if you or your spouse contributed the monthly social security premiums during their working days. And also if you enjoy disability benefits or have suffered permanent kidney failure. If you decide to buy part A, you should have Medicare part B for which you will be paying monthly premiums.
  • Part B- also known as Medical insurance. This covers the outpatient cares, necessary services, and preventive services costs. Part B mostly covers the use of durable equipment for home and hospital cares, ambulance lifts costs and clinical tests.
  • Part c- also known as medical advantage plans. Covers all benefits provided in part A, part B and part D. it also provides other benefits, not in the three parts mentioned above. It is provided by selected private companies in collaboration with Medicare.
  • Part D- also known as Medicare prescription drug plan. This part covers the cost of prescription drugs in all parts.
  • Medicare Supplemental to pay for the gaps in Medicare.  Compare rates here comparemedicaresupplementplans2018.com.

Conclusion

The entrepreneurial spirit in baby boomer will see them continue being active for few more years. As much as Medicare is likely to be affected by baby boomer’s retirement, the group is also likely to live a better live that their counter parts before them. This is because of their enterpreneural spirit which drives them to do more for themselves and the society at large. It is also proven that many baby boomers support their adult children to date therefore they are not likely to completely retire.

4 Tips For Preventing Cholesterol

For many seniors that are diagnosed with high cholesterol, every bite counts. Many elderly people think that they can cut certain snacks and meal throughout the day in order to keep the cholesterol levels at bay. However, having regular meals is actually important for normalizing the blood sugar levels. Also it can keep the metabolism moving throughout the day. According to the American Heart Association, a stunning number of 102 million Americans suffer from high cholesterol levels. More than 35 million of these people have levels of 240 mg/dL or higher, which puts them at high risk for heart disease. That is why, a proper early prevention strategy is needed. In this text, we will analyze how we can prevent the high cholesterol levels.

Switch to a heart-healthy diet
Eating healthy foods can have a galvanizing effect on the overall health of the seniors. According to the American Heart Association saturated fats and trans fats should not go above 6 percent of the total daily calories. That can be achieved through reducing the consummation of red meats and several dairy products that contain whole milk

From a dietary standpoint, the best way to lower your cholesterol is reduce saturated fat and trans fat. The American Heart Association recommends limiting saturated fat to 5 to 6 percent of daily calories and minimizing the amount of trans fat you eat.

Other elements of a good diet includes vegetables, fruits, whole grains, poultry, fish and nuts and limiting fried food, sugar and other processed foods.

Weight Loss

Seniors that are overweight or obese usually have the potential to raise LDL cholesterol and lower HDL cholesterol.  The prospect of losing weight can optimize the overall health and will improve the cholesterol. One concrete strategy that many health specialists advice is that a 10% weight loss can significantly lower the risk of cholesterol.

 

Exercise

Physical activity is important for the overall health. Many experts recommend a 40 minutes of aerobic exercise on a daily basis. Being active from three to four times a week it can be a catalyst for lowering both cholesterol and high blood pressure. Fitness, bodybuilding, swimming and dancing are just some of the activities can that help. Also the concept of being active can have a great impact on the weight management and many other benefits that can contribute to the well-being of the seniors.

 

Avoid smoking

Seniors should avoid smoking. That way, they can lower their cholesterol levels and help protect their arteries by quitting. It is well documented that smoking can lower the HDL cholesterol. When a senior person that is diagnosed with cholesterol also smokes, the potential risks for coronary heart can significantly increase. Smoking can also contribute for the development of other risk factors for a heart disease, such as diabetes and high blood pressure.

The bottom line is that cholesterol is an issue that always goes under the radar. Many seniors are not aware until significant issues start to come out to the surface. That is why, it is imperative to implement these preventive measures in order to maintain a good health on the long term.

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