Health Care Spending: 20% of GDP by 2028

By Alex Kacik – ModernHealthCare – March 25, 2020

Health care spending is expected to grow at an average annual rate of 5.4% from 2019 to 2028, as prices are expected to increase at an average annual rate of 2.4% over that span and account for 43% of total spending growth, researchers at the CMS’ Office of the Actuary estimated. Price growth only accounted for a quarter of total expenditure growth from 2014 to 2018. As a result, the health care economy would climb to $6.19 trillion in 2028, which would account for 19.7% of gross domestic product – up from $3.65 trillion in 2018, which was 17.7% of GDP. The government is projected to pay a larger share – nearly half – of the nation’s total health bill by 2028, as Baby Boomers continue aging into Medicare; its beneficiaries consume $1 out of every $4 spent on health care, said Sean Keehan, an economist in the Office of the Actuary and lead author of the study published in Health Affairs. Enrollment in Medicare is expected to jump to 75 million people by 2028.

ARTICLE and ARTICLE and ARTICLE

If Seniors Can Work Longer, They Will

65 is no longer the expected age of retirement for the Medicare-eligible

By the Center for Retirement Research at Boston College – March 25, 2020

A majority of adults believe there’s better than a 50/50 chance they’ll still be working full-time after age 65, a new study found. Adults 18 to 70 were asked to rate themselves for 52 different cognitive, physical, psychomotor and sensory abilities that determine the capacity to work. When researchers compared older and younger participants, they found many self-assessments of abilities were very similar. Here are three of the central findings:

  • The more occupations people can do, the more likely they were to say they would work past 65;
  • Workers over 60 with a higher capacity to work said they would be more likely to remain employed even after 70;
  • One in four of the retirees with a very high capacity for work would consider “un-retiring” and returning to the labor force.

This study seems to indicate that if older people are capable of working, they are more willing to do so.

ARTICLE based on STUDY

How This Crisis May Change You

 

By Anthony Iannarino – The Sales Blog – March 25, 2020

If you’re going to be changed by this crisis, the right place to start is by being more grateful, especially for the things we take for granted. Losing something often causes us to be more thankful for what was lost. You might not have been grateful for your job, your clients or your work family until events beyond our control disrupted those things. I’ll bet you’re thankful, this morning, for the talented people who work in AmeriLife’s IT Department. If you’re going to be changed by the events of 2020, after gratitude, there’s no better place to start than your physical, psychological and emotional health. Crisis and disruptive events can take a toll on you emotionally. Now, the essential things in life: people. Allow this event to change you positively by reminding you of who is important in your life. If there’s a trait you find in nearly every human being, it’s the ability to discover and create solutions to intractable problems. The lessons you learn now prepare you for the next crisis, even if it’s only getting you ready to operate in the next world of unknowns.

COLUMN

 

How to Maintain Your Professional Poise

By Anthony Iannarino – The Sales Blog – March 17, 2020

The problem with a crisis is that when you’re in it, it’s all-consuming, this one especially. When there’s a clear and present danger, your attention and focus naturally go to the threat as a way to protect you from harm. The older primal parts of the brain take over, using your emotions to cause you to focus and act, rather than the relatively new parts of the brain, the elements capable of being logical and rational. Poise means “keeping one’s composure.” It means maintaining control, grace and being courteous. It’s possible to react to the danger without losing your poise, something that’s going to be critical to successfully navigating this threat. You shouldn’t take a real threat lightly, nor should you lose your head and allow fear to paralyze you, preventing you from maintaining your poise and your perspective. The future needs you to do your part, like all of those who have faced the great challenges of the past. A large part of this will be restoring a sense of normalcy. You can do this.

COLUMN

 

Panic Shopping For Life Insurance

The panic shopping for coronavirus planning doesn’t end with food, water and toilet paper. Some consumers are also panic shopping for life insurance. In the face of widespread fears about infections and quarantines, many Americans are getting their financial houses in order. Fabric, which offers instant online life insurance, saw a 50% increase in life insurance applications since mid-February. LifeQuotes, an online life insurance agency, reports a 29% increase in applications requested since Jan. 20, 2020 – a date commonly used as the day the coronavirus became widely known. Any traditional life insurance policy, such as term life insurance, will be a suitable financial safety net, and consumers now have options for speedy applications. No-exam life insurance policies skip the medical exam and shorten the underwriting time.

ARTICLE