Not only are boomers retiring in ever-growing numbers, areport from CNBC says that the tide of 10,000boomers retiring each day will more than double Medicareand Medicaid costs by 2020.

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And then there’s the question of whether the health careindustry will be able to keep up with such a flood of retirees—numbers courtesy of Pew Research andthe Social Security Administration—or whether those retirees willbe able to keep up with the cost of their healthcare, Medicare andMedicaid notwithstanding.

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Retired 65-year-old couples, the report says, can expect to pay$275,000 in out-of-pocket expenses for health care, excludinglong-term nursing care and rehabilitation. However, they have justa 50 percent chance of covering these costs.

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So not only is there an issue with how financially well prepared Americans are forretirement, but so whether the health care industry can handlethe load.

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Health care costs are, after all, rising faster than the economyis growing, which means that Medicare taxes and the Trust Fund willcover less and less as time passes. The report cites punditspredicting that by 2033 the Trust Fund will be bankrupt, and taxeswill pay only for 48 percent of the costs.

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With a Fidelity prediction that retired couples can expect tospend $275,000 during retirement on out-of-pocket health careexpenses alone, that paints a gloomy picture indeed for emergingretirees who, the report says, “will both live longer andexperience higher rates of hypertension, higher cholesterol,obesity and diabetes,” thus putting a strain on both their healthand finances for a prolonged period of time.

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Boomers are already spending an “exhorbitant” amount on healthcare, which the report says is the bright spot in the picture—sinceall that spending has been driving innovation in care.

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But to little result, since the U.S. still spends the most forthe least return, according to an AARP report, cited in the reportsaying, “the U.S. stands out for the high cost of health care andits failure to generate better health outcomes.”

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In addition, all that spending can lead to demand for newtreatments and medications that can boost spending by “orders ofmagnitude.”

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There’s also the issue of all the gaps in the workplace left bythose retiring boomers—and the question of whether there will beenough health care personnel among GenXers and millennials to carefor all the boomers who will need help.

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Currently, the answer to the latter question is no, with thereport citing The New York Times saying, “we already lacksufficient numbers of geriatricians and other professionals—nurses,social workers, pharmacists, aides—trained to care for the elderly,and the shortage is projected to increase.”

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