Blog: The Senior's Advocate
Posted on: Jun 25, 2014
Nobody can say for sure whether Medicare will sustain forever. However based on collection of relevant statistics we can form our own opinions about the viability of Medicare in the United States. Some of these numbers may shock, surprise and if you're a senior, even downright scare you.
- Medicare already pays out nearly ten times more than it takes in, and the baby boomers alone will more than double the enrollment in the Medicare program.
- Medicare Part A (Hospital coverage) is projected to be depleted, by 2024, five years sooner than projected last year.
- Benefits are expected to exceed revenues in all future years.
- Baby boomers will raise enrollees’ in Medicare from 49 million today to 81 million in 2030.
- Worker per beneficiary- 2000: 4 to 1, 2030: 2.3 to 1
- US Government is paying 14% more per beneficiary in Medicare Advantage than those on Original Medicare.
- The Affordable Care Act cuts subsidies to MA plans by 132 billion dollars between 2011 and 2021
*Referenced from a May 13, 2011 report by the Medicare trustees