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Medicare spending is rising rapidly and is likely to have significant impacts on important issues such as taxes and health insurance. In fact, at the current rate of increase Medicare hospital fund outlays are predicted to exceed tax revenues in 2008. Medicare trustees fear that financial depletion will occur around 2019. As the “baby boom� generation nears retirement, the program’s ability to support life and health insurance benefits is becoming quite strained.
Time is running out, and the U.S. government is proposing solutions to achieve a much needed financial balance. Consequently, Colorado group and individual health and life insurance recipients, as well as businesses here and across the nation, are likely to see insurance coverage cuts and payroll tax increases in the future. Theses policy changes will have far reaching impacts upon group, individual, and family insurance in Colorado, as well as health and life insurance for companies. Furthermore, Social Security is also suffering from financial imbalance; and it is predicted that by 2017 the program’s expenditure will exceed its revenue.
Forecasts such as these have large implications for Colorado businesses, families, and individuals concerned about their health and life insurance coverage. The impacts of increasing Medicare and Social Security spending will fall largely upon small company, family, and individual health insurance plans. Therefore, the rising cost of providing individual and group insurance coverage will be felt throughout Colorado and the entire country.

Please visit our QUOTES section or contact us at (303) 317-6650 to receive a free quote for individual, family, business, and group insurance in Colorado.