There Are Approximately 80 Million Baby Boomers About To Go Into Retirement
The dilemma of boomers and retirement is turning out to be more real and more demanding each day. With its estimated 77 million members reaching retirement age over the next two decades, a sea alteration will take place in American society. This significant generation will move from the popular spending force in the society into the challenges of aging and retirement. While several will have very relaxed means to sustain them, a large proportion will be reliant on Social Security Retirement benefits at any given time when several question the reliability of that plan.
For many baby boomers, retirement also means moving from private insurance to Medicare for health care requirements. At the age of retirement, many individuals have pre-existing problems which make obtaining extra coverage hard or prohibitively expensive. While Medicare is a great boon, it is not free for Part B which includes non-hospital costs, and it only pays 80% of expenses that it takes care of at all. For those living on Social Security Retirement benefits solely or mainly, even that Part B premium may be unpleasant. So, boomers and retirement do have problems to solve.
Even for those who can afford supplemental policies to help pay for medical expenses, there are concerns about the capability of the system to satisfy the medical needs of an aging population. The amount of geriatric specialists is not sufficient to meet the rising numbers of aging Americans and this provider shortage cannot help but have a negative impact on the quality and delivery of care. In addition, cutbacks in Medicare payoff schedules have meant many doctors who are not participating in Medicare or who are threatening to give up.
As for everyone who is aging, boomers at retirement age and beyond may well have to adjust to changes in their lifestyles and quality of life that are simply part of the growing older process. Chronic disease become more common in the aging and these can aggravate such essentials as ability to move, self-care and nutrition. Cognitive changes can also have a devastating effect on function.
The good news is that advances in medicine have meant longer and more functional lifespans. Improvements in the treatment of arthritis and other bone and joint conditions mean better chances to retain mobility longer in to life. Worn out joints can now often be replaced restoring almost normal function and liberty from pain. Knowledge that keeping the mind busy can delay or even prevent cognitive decline also improve the quality of life. As long as we can make the advancements of medicine available, boomers can truly hope for a long life in retirement that is enjoyable and functional.
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