Home > Health, Politics, Trends > Forget Medicare! 70 Million Boomers Healthcare is a Goldmine for Corporations

Forget Medicare! 70 Million Boomers Healthcare is a Goldmine for Corporations

April 7, 2011

ASHEHAM PRESS ALL RIGHTS RESERVED

UPDATE: MAY 2, 2011: 7,000 Baby Boomers are turning 65 every day.

Healthcare and social assistance. About 26 percent of all new jobs created in the U.S. economy will be in the healthcare and social assistance industry. This industry—which includes public and private hospitals, nursing and residential care facilities, and individual and family services—is expected to grow by 24 percent, or 4 million new jobs. Employment growth will be driven by an aging population and longer life expectancies.

Bureau of Labor Statistics, projections 2008-2018

The Republican party this very week is arguing to reduce, if not eliminate, Medicare, Medicaid, and ALL government healthcare. Why? Because they are lobbying for the Health Insurance industry and Health care businesses who want to take over the system in place and be in charge of the whole enchilada plus ALL services related to medical and healthcare for American citizens. PAY THEM, NOT YOUR OWN GOVERNMENT. AND THAT MEANS NO MORE SUBSIDIZED HEALTHCARE. IT WILL BE PAY FOR PLAY. IF YOU ARE OLD, POOR, LOW INCOME, DISABLED, BLIND, DEAF, A VETERAN, A WIDOW – TOO BAD IF YOU CANNOT AFFORD YOUR CORPORATE PREMIUMS.

Get rid of Medicare, Medicaid and government supported health programs and your health and related medical care will be in the hands of corporations. I guarantee it will put most Americans in the poor house. How do I know? Already, 48 million Americans cannot pay for health insurance. Prior to the 2008 financial collapse that number was 44 million. The number one reason for personal bankruptcy in America is medical debt obligation.

About 44 million people in this country have no health insurance, and another 38 million have inadequate health insurance.

Healthcare Crisis: Health Insurance, Who is At Risk?

The Big Lie
The argument that our government cannot afford to provide healthcare and medical care is false. It is a lie. It is a ploy to wrestle the control of public healthcare away from the public. Government healthcare IS public healthcare. There is nothing socialistic about it because anyone who has ever worked has paid into the system. Our nation — because we are a moral nation — helps those who cannot work and take care of themselves. That’s part of the social contract which is part and parcel of the principles our forefathers believed in.

The Republicans are arguing against Medicare, Medicaid, and Obamacare NOT for ideological reasons, but for practical business reasons. They want the payroll payments that normally go to our government to support those programs to go to corporations. We are not talking small change here… millions, or billions, but trillions of dollars. It is literally a goldmine.

The Goldmine Demographic
There are an estimated 70 million Baby Boomers who were born between 1946 and 1964. The oldest baby boomers will celebrate their 65th birthdays in 2011. More than 37 million of them – six out of 10 – will be managing more than one chronic condition by 2030. Also by 2030:

* 14 million Boomers will be living with diabetes—that’s one out of every four Boomers.
* Almost half of the Boomers will live with arthritis and that number peaks to just over 26 million in 2020.
* More than one out of three Boomers—over 21 million—will be considered obese.

By 2020, Boomers will account for four in 10 office visits to physicians. Over the next 20 years, Boomers will make up a greater proportion of hospitalizations as they live longer but with multiple complex conditions.

Source: Caring News, AHA Report

The Numbers are Staggering
Let’s remember, a doctor may call you a patient, but a business calls you a customer. Customers spend money and businesses in the medical professions and healthcare industry want that money. Why let it go to government when it can go directly to them?

According to a Summary of the 2010 Annual Social Security and Medicare Trust Fund Reports from the Social Security and Medicare Boards of Trustees, Social Security’s projected annual cost is expected to increase to about 6.1 percent of GDP in 2035, then decline to 5.9 percent by 2050 and remain between 5.9 and 6.0 percent through 2084. Under current law, Medicare costs should increase to 5.5 percent of GDP in 2035 and to 6.4 percent in 2084.

If the annual GDP is $13 trillion — the average U.S. annual figure — then the number is easy to figure: $793 billion in 2035. See for yourself, click here

Other information from the SSA report:

The outlook for Medicare has improved substantially because of program changes made in the Patient Protection and Affordable Care Act as amended by the Health Care and Education Reconciliation Act of 2010 (the “Affordable Care Act” or ACA). Despite lower near-term revenues resulting from the economic recession, the Hospital Insurance (HI) Trust Fund is now expected to remain solvent until 2029, 12 years longer than was projected last year, and the 75-year HI financial shortfall has been reduced to 0.66 percent of taxable payroll from 3.88 percent in last year’s report. Nearly all of this improvement in HI finances is due to the ACA. The ACA is also expected to substantially reduce costs for the Medicare Supplementary Medical Insurance (SMI) program; projected program costs as a share of GDP over the next 75 years are down 23 percent relative to the costs projected for the 2009 report.

Health Inequity Has Economic Cost
According to the National Coalition on Healthcare, March 18, 2011: The gaps in health status and opportunity between the rich and the poor and whites and most non-white populations have an economic, as well as human, cost. A study (see below) released by the Joint Center for Political and Economic Studies found that between 2003 and 2006, health and health care inequalities cost the nation $1.24 trillion in health care expenses as well as economic impacts, such as lost wages and productivity.

Burden of Health report: Burden_Of_Health

Moral Imperative
We need to ask ourselves what kind of a nation are we? Do we want to be beholding to corporations who will control the entire process? Who will control them? Who will regulate costs? Who will be making decisions on who qualifies for care, or a particular treatment? Shouldn’t everyone be eligible for care and treatment? Are we not all human? Do we not all suffer? Are we not one nation undivided? Are we not citizens first, and customers second? What is the moral imperative here?

Already we are seeing a hint of what may happen with Medicaid block grants:

….creating federal block grant funding for Medicaid, the nation’s most important source of insurance for those with low incomes. Unfortunately, such a strategy is unlikely to help meet growing needs for insurance coverage. Medicaid block grants would force states to compete for increasingly limited federal resources and would solidify already stringent eligibility requirements in many states, such as Alabama, which covers working parents only up to 24 percent of the poverty line, or an annual income of $4,450 for a family of three. Source: Kaiser Health News

Is this what we want? if not, contact your representatives from both parties and tell them to preserve and strengthen Medicare, Medicaid and government programs. It is, after all, our government. We own it. We cannot say the same about corporations.

Related:

National Coalition on Healthcare – click here

A SUMMARY OF THE 2010 ANNUAL REPORTS — click here
Social Security and Medicare Boards of Trustees

Bureau of Labor Statistics – 2008 to 2018 Projections
As the baby boomers continue to age, the 55 and older age group is projected to increase by 29.7 percent, more than any other age group. Meanwhile, the 45 to 54 age group is expected to decrease by 4.4 percent, reflecting the slower birth rate following the baby-boom generation. The 35 to 44 age group is anticipated to experience little change, with a growth rate of 0.2 percent, while the population aged 16 to 24 will grow 3.4 percent over the projection period. Minorities and immigrants are expected to constitute a larger share of the U.S. population in 2018. The numbers of Asians and people of Hispanic origin are projected to continue to grow much faster than other racial and ethnic groups.

Advertisements
  1. angela
    April 14, 2011 at 2:59 pm

    I THINK WE SHOULD GET RID OF THE WHOLE GOVERMENT SYSTEM……THATS WHERE MOST OF OUR MONEY GOES!!! IT’S CRAZY TO THINK ABOUT GETTING RID OF MEDICARE!!! MY HUSBAND HAS CHRONIC HEART DISEASE @ AGE 38 HE IS ON DISABILITY MEDICARE/MEDICADE, WTF WOULD HE DO IF OUR SO CALLED LOVING GOVERMENT WAS TO TAKE THAT FROM HIM!!!!! WE CAN NOT AFORD ANY HEALTH CRE PRICES OR PAY FOR MEDICAL TREATMENT HIS MEDICATION IS TOO EXSPENSIVE AS IT IS NOW. ALL OUR GOVERMENT WOULD DO IS KILL HIM…OUR GOVERMENT WANTS THE AMERICAN PEOLPE TO FIGHT FOR THEM BUT BUT LEAVE US IN THE DUST

    SENCERLY YOURS:

    ANGIE SALGADO

  1. No trackbacks yet.
Comments are closed.
%d bloggers like this: