Baby Boomers Expected to Drain Medicare

The first baby boomers have turned 65, signaling the start of a flood of applications for Medicare benefits. Experts fear that this could drain the economy.

Between 1946 and 1964, 76 million children were born. That generation's overwhelming demand on the Medicare system could leave future generations with a bigger bill.

ABC News reports:

"Medicare currently covers 46 million people, costing the government about $500 billion a year. But when the last of the iconic generation reaches 65 in about 20 years, more than 80 million people will be eligible for Medicare coverage, although the number of working people paying into the program will have decreased from 3.5 per person receiving benefits to 2.3."

+ Sources and References
Click Here and be the first to comment on this article
Post your comment