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The Financial Impact of Medicare Rates on a Health Service Organization in Relation to Baby Boomers Retiring

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The Financial Impact of Medicare Rates on a Health Service Organization in Relation to Baby Boomers Retiring

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The Financial Impact of Medicare Rates on a Health Service Organization in Relation to Baby Boomers Retiring
Baby boomers are adults nearing retirement age and also those who have already retired particularly from 65 years and above. It is the population that was born between the years 1946 and 1964 (Howard, 2009). Baby boomers retire each day in the U.S, and this compromises health care delivery in health service organizations. Today, long term care is in crisis especially in the United States. Statistics indicate that the current health system in the nation is not meeting the needs of baby boomers. This is expected to worsen as according to the census bureau in US; the number of baby boomers is expected to be 77million by the year 2029 (as cited in Richard & Corina, 2010). Baby boomers affect health service organizations financially in that they require critical, attentive and in most cases expensive care. In respect to this, many of them lack Medicare insurance, and this becomes a problem. The massive number of retiring baby boomers will put pressure on the current healthcare system. Approximately three million baby boomers retire each year. Baby boomers impact on health care is overshadowed due to budget battles and federal reform. This paper explores the financial impact of Medicare rates on a health service organization in relation to baby boomers retiring.
As the number of baby boomers increase due to retirement, health service organizations such as clinics, hospitals, care homes and nursing homes are likely to bear the financial burden. In most cases, aging is characterized by chronic condition. Baby boomers with such conditions end in health service organizations. They are also vulnerable to flu, cold and fall.

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