Middle-aged Americans are scared they won’t be able to depend on Medicare during retirement, and are fearful of Medicare cuts, a recent Associated Press-GfK poll has revealed.
Twice as many baby boomers say they don’t feel comfortable relying on the government health plan (43 percent) than those who do feel confident in the program (20 percent).
The poll, which interviewed 1,000 Americans over the phone from Nov. 18 to 22, also found Americans were more willing to raise the retirement age or taxes and keep benefits than not doing so and facing Medicare cuts.
An overwhelming majority of respondents said they would rather see the age when benefits kick in being raised and benefits being kept the same (61 percent) than keep the retirement age the same and see Medicare benefits being cut (31 percent).
A similar breakdown of those surveyed said the same about Medicare taxes (61 percent to 31 percent), preferring an increase in taxes and Medicare benefits being kept the same.
As middle-aged Americans grow older, the proportion of people paying into the program to those who are receiving benefits will shrink drastically, making the prospects that Medicare can sustain the wave of baby boomer retirements dire.
In about 20 years, when nearly all boomers reach retirement age, only 2.3 workers will be paying for the Medicare benefits of one retiree, compared to the current 3.5 ratio, the AP reported.
Also by 2030, Medicare will be forced to cover more than 80 million Americans, assuming the current policies stay the same.
Twice as many baby boomers say they don’t feel comfortable relying on the government health plan (43 percent) than those who do feel confident in the program (20 percent).
The poll, which interviewed 1,000 Americans over the phone from Nov. 18 to 22, also found Americans were more willing to raise the retirement age or taxes and keep benefits than not doing so and facing Medicare cuts.
An overwhelming majority of respondents said they would rather see the age when benefits kick in being raised and benefits being kept the same (61 percent) than keep the retirement age the same and see Medicare benefits being cut (31 percent).
A similar breakdown of those surveyed said the same about Medicare taxes (61 percent to 31 percent), preferring an increase in taxes and Medicare benefits being kept the same.
As middle-aged Americans grow older, the proportion of people paying into the program to those who are receiving benefits will shrink drastically, making the prospects that Medicare can sustain the wave of baby boomer retirements dire.
In about 20 years, when nearly all boomers reach retirement age, only 2.3 workers will be paying for the Medicare benefits of one retiree, compared to the current 3.5 ratio, the AP reported.
Also by 2030, Medicare will be forced to cover more than 80 million Americans, assuming the current policies stay the same.
