Baby Boomers: Rising Health Costs

Baby boomer is a term for a generation that is known for its path breaking ideas and new approach towards life. With the ability to express themselves in a unique manner, baby boomers were the ones who pioneered musical genre like rock and roll and also made a commendable contribution to the field of science and economics. Truly, baby boomer can be called the generation that has contributed a lot to the society through its ideas, actions and discoveries to make our world a better place. Now at a time when most of the baby boomers are well above the age of 50, healthcare has become a major concern for them. This article will feature the problem of raising health care costs for baby boomers.

According to a report, over sixty percent of working adults with age ranging from 50 to 64 are diagnosed with a chronic health problem. While all people within the specified age range are baby boomers, it is also a popular fact that this generation had an unhealthy/hectic lifestyle. Health problems like cancer, cardiac disorders, high cholesterol, bone and muscle related diseases, diabetes and high or low blood pressure etc. are some of the common health issues among baby boomers.

If you are a baby boomer and are affected by any of the above diseases, it would not be wrong to state that you are worried about the huge costs the treatment of such diseases will incur. Treatment and diagnoses of diseases is never a cheap job. For medical treatments, patients are required to pour hundreds of dollars just in the medical tests alone. While most of you will be able to afford elementary treatment for your medical problems, major problems like heart diseases would be a financial burden for many. Even though medical treatments are costly, it does not mean that they should be a financial burden for anyone. Financial help instruments like health insurance can help baby boomers greatly in securing a stable and healthy future for themselves.

According to the same report referred earlier, around seven million American baby boomers do not have health insurance or have remained uninsured from a long time. Looking at these unfortunate figures, it can be stated that when it comes to healthcare, a lot of baby boomers are not heading in the right direction. Although the unavailability of a health insurance is not a problem for a wealthy individual, baby boomers who belong to the middle to lower income group will definitely face problems in coping with costly healthcare issues without healthcare insurance cover. Some of the problems faced by such baby boomers are:

Continuously escalating health issues: Many people tend to ignore small health problems because of unstable financial inflows. Ignorance of these seemingly small health problems is sometimes what causes complicated health issues that are much more difficult to deal with and thus more cost intensive to treat.

Unstable or inadequate health cover: Many companies offer health insurance cover to their employees but these covers are not enough to cover all the health risks. Baby boomers often think that their health is covered by such health insurance plans and do not bother to update or take another plan to suit their needs.

Healthcare issues are not only hard to deal with, they can also be financially devastating, financial health instruments like health insurance not only help you deal effectively with your financial problems, they can also aid in imparting a healthy and carefree lifestyle that baby boomers are best known for.