Are Aging Baby Boomers Causing the Healthcare Crisis?
Healthcare and the issue of “entitlement” programs such as Medicare will likely become hot topics as the Presidential election looms closer but, really, this is relevant no matter where your political affiliations lie.
Medicare and Social Security aren’t subjected to the same budgetary processes as most other facets of government spending, and this may in the future force upon us something of a healthcare crisis.
However, it’s not what you might be thinking. This isn’t about the baby boomers expecting the younger generation to pay for Medicare via their tax dollars. Healthcare spending will indeed become a problem since the federal government is set to sink an estimated $54 trillion into senior healthcare over the next 75 years – which may make a $700 billion bailout look like pocket change – but it’s not necessarily due to the aging population.
What is the Real Problem with Healthcare?
The real problem isn’t an intergenerational one, in which we have the young people on one side complaining about having to fund the retirement of the nation’s baby boomers. After all, today’s baby boomers are the very same people who, one or two generations ago, were paying their taxes and keeping their families fed.
The real problem isnt the aging population – it’s the increasing costs of healthcare.
Whether you’re funding your healthcare via Medicare or via private health insurance, there’s no getting around the fact that healthcare costs are increasing at an estimated 2.5% faster than the economy can keep apace.
With newer, more expensive pharmaceuticals, surgeries, and health treatments, newer, better, and more expensive healthcare technology, the costs of keeping ourselves healthy are spiraling out of control.
That’s not to mention the fact that our aging population is also enjoying, on the whole, longer lifespans. We’re not necessarily any healthier, but thanks to all this new technology, we’re living longer lives, which means… you guessed it – we need more healthcare.
If you want to ensure you’ll always have the healthcare you need, the solution is largely a personal one. Don’t rely on federal aid – it’ll be there if you need it, but coming up with your own solution is preferable in every respect. Live healthy and select a good health insurance plan to ensure you’ve got all your bases covered.
October 8th, 2008 at 2:55 pm
I agree that Healthcare is too costly. However, a lot of the “Blame” can be placed on Healthcare Doctors.
I recently visited my Doctor for a yearly physical. When I received a statement detailing my expenses, I noticed a “Double Entry” for services rendered. I called my Doctors’ Accounting Department and was told that (1) one entry was for the annual physical that I received and the second (2) entry was for “Talking” to me about two previously diagnosed conditions (Thyroid and Blood Pressure). The annual physical was listed as a “WELL” Visit and the discussion was listed as a “SICK” Visit, even though I visited the Doctors Office only (1) one time.
I believe this type of “Double Dipping” amounts to Medical/Insurance Fraud and is one of the main reasons that Medical Expenses are out of control.
What can be done to stop this sort of medical shenannigans?
James Morris
October 8th, 2008 at 2:56 pm
See submited comments.
October 8th, 2008 at 3:06 pm
Thanks James. You make very good points. I agree that doctors may over-bill, but then one might also say that doctors are simply trying to recoup the 200,000-plus that they spent getting a medical degree, and for which they’ve gone deep into debt to get. Both our educational system and our health care system need extreme help now.
October 8th, 2008 at 3:24 pm
Absolutely — there are several places where the system needs work. Unfortunately that makes it all the more difficult to know where to start.
That’s very interesting James — I agree it looks like double dipping, but I suppose it depends on what your doctor’s specific policies are. It might be above-board, but it’s definitely a good way to get more money out of patients. It’s definitely a big problem that something as essential as healthcare is subject to economic pressure from so many different angles.
October 8th, 2008 at 8:04 pm
This is absolutely ridulous…Doctors are very busy today…bandaiding like crazy…The numbers are their barometers..blood sugar, blood pressure, cholesterol…Keep the numbers down …otherwise..you will get a prescription..and then another for the side affects andthe doctors are very busy…following the dominos…Why not more education…and firmness from doctors and getting their patients in line with natural ways, exercise, good food…TOO BUSY