There's one way to keep Medicare funded as millions of baby
boomers retire starting in 2011: Get people to work longer.
Thomas Saving, a Medicare trustee, briefly mentioned this
possibility in a
Heritage Foundation lecture published Sept. 24. "One of the
important things about financing these programs is getting people
to work longer," Saving said. "By working longer, we would increase
revenue while reducing the burden placed upon the system."
But Saving knows many can't work longer: Many professions, such as
police officer, have a mandatory retirement age because a
68-year-old cop can't handle the physical aspects of the job as
well as a 29-year-old can. That means Medicare will force an even
greater financial burden on those who could work longer, such as an
accountant or attorney. And that means Medicare, without serious
reform, could pit white-collar workers against blue-collar ones,
baby boomer retirees versus Generations "X" and "Y" workers, plus
rich versus poor.
Saving doesn't want this to happen. That's why he, along with
Heritage health-care expert Robert Moffit, has been campaigning to
reform Medicare before 77 million retiring baby boomers bust an
already creaky system. Adding prescription drugs as an entitlement,
as many lawmakers want to do, will only hasten that future. Real
reform must come first.
For more information or to receive an e-mail version of
"Medicare Maladies," contact [email protected] or call
Heritage Media Services at (202) 675-1761.
Report Health Care Reform
Medicare Malady #54: Want To Keep Medicare Solvent? Keep Working.
October 1, 2003 1 min read
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