US Medicare Costs Now 7.5% of GDP
October 4, 2035 - The US administration announced today that Medicare costs for this year will be 7.5% of GDP. This is the highest number ever and almost three times as much as 30 years ago. The reason for the increase is of course the aging population.
Five years ago, the youngest people born during the baby boom (a period of time with exceptional birth rates, from 1946, after the end of the Second World War, to 1965) reached age 65 and became eligible for Medicare. This year, Medicare provides coverage for 83 million people who are 65 and older or disabled.
The Medicare costs will continue to increase in the future, with another 10 million eligible by year 2055, with a total of 9.8% of GDP.
Argument: According to United States Department of Health and Human Services the costs for Medicare will be 7.5% of GDP by year 2035.
Questions: In 2077 there will only be two workers on every Medicare beneficiary, compared to four workers today, which will put a unprecedented pressure on the working generation. What kind of system is needed to take care of this problem?
January 19, 2035 - According to the latest statistics presented this week, 1 million hydrogen-fueled cars have now been sold in the US. The figures for last year show an increase in sales by 50% from 2033.
January 8, 2035 - With a first prize of seven million US dollar and the intriguing plot of trying to fool or outsmart Arnold, the most advanced artificial intelligence in public use, the much hyped live show “Fooling Arnold” became the people’s choice this Saturday.
December 20, 2030 - The launch yesterday of the virtual realistic-looking human newscaster from Simple News gained rave reviews. Others have made several attempts earlier, but this sends the live newscasters in to a pretty shaky future.
December 18, 2020 - This year shows strong growth for wind power when the total global installed capacity added a record 62,000 MW, making the total capacity more than 680,000 MW. Wind power is by far the renewable source with the largest growth in worldwide capacity during the last decade.
December 15, 2030 - There's no doubt what the most popular Christmas present will be this year. Influenced by the launch of the first manned mission to Mars next month, you will most likely get a present with stars, a gift card for a spacetrip.
November 19, 2040 - Today was a historic day for Iceland when their President this morning at a symbolic ceremony officially shut down the last gasoline pump in the country. Iceland is a model country when it comes to the fuel transition from gasoline to hydrogen and became today the first country in the world to complete it.
September 21, 2050 - At a press conference today it was announced that the first tourist heading for Mars will be the 38-year-old US businessman Patrick Clifford. He will leave the earth in the launching window of June 2052 and set his foot on the surface of Mars in November, together with the other 6 astronauts assigned for the mission to further explore the planet.
September 12, 2035 - Are you kidding? Is it possible to beam myself? No, of course not, but you can now make a 3-D projection of yourself anywhere in the world. The first product for real teleimmersion has been released, the Telebeamer.
September 5, 2035 - More than 20,000 quadriplegics around the world have now got a BCI, a Brain Computer Interface. It gives them the ability to control their environment, from driving their own electric wheelchairs outside their house, to make their own dinner.
Comments:
Medicare will be rolled into a combination program with Medicaid long before this and will be grandfathered and means tested. Eligibility will only come by age 70. Any one wanting access to cutting edge and quality care will be paying with cash or plastic, as in the next few years any capable physician is going to opt out of the overly regulated, underpaid behemoth of a Federal program. Future retirees should not plan on Medicare participation, and should have $500,000-$1,000,000 planed as retirement savings for their health care alone. They will be negotiating the payment at market rates.
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