In the next 10 years, the amount spent on Medicare beneficiaries will climb from about $555 billion in 2011 to nearly $1 trillion by 2021. Two issues are happening: the first is that members of the baby boom generation ??? the largest generation in American history ??? are joining the Medicare rolls. Every day, about 8,000 Americans turn 65, making them eligible for Medicare. The second issue is that the intensity of health care spending is increasing. The amount of money spent on each beneficiary is rising, as new treatments and tests become available. At the same time, the number of people working and paying federal taxes is growing much more slowly than in previous decades. Medicare spending, as all health spending, is rising at a faster rate than the general economy and wages. This means that health spending will consume a greater and greater share of the nation???s economic output and that Medicare will consume a greater share of the federal budget.
What Are the Key Drivers of Medicare Spending Growth?
What Type of Services and Which Beneficiaries Account for the Largest Portion of Medicare Spending?
How Much Does Medicare Cost? How Much Is It Expected to Cost in the Future?
What Does Medicare Have to Do With the Federal Budget Deficit?
What Percentage of Federal Outlays Does Medicare Represent?