Senior citizens

Best Buy to acquire GreatCall in expansion of Assured Living unit

Photo of a Best Buy store
Photo: Sandy Huffaker/Getty Images

Best Buy has agreed to buy GreatCall, a San Diego-based provider of Jitterbug smartphones and other health and emergency response electronics for seniors, from buyout firm GTCR for $800 million in cash.

Why it matters: America's aging demography — and corresponding care spend — is pushing tech companies to develop products for seniors, whereas they've traditionally focused more on younger, earlier adopters.

Medicare fund slated to run dry by 2026

Protests of Medicare cuts occurred in Chicago.
People protest Medicare cuts in Chicago. Photo: Scott Olson/Getty Images

Medicare's primary fund is expected to be depleted by 2026, three years earlier than health care officials expected last year, per the 2018 report from Medicare's trustees.

Why it matters: More than 58 million seniors and disabled people rely on Medicare to get health care services. But a dwindling and aging tax base, higher payments to providers and health insurers, and overall high health care prices could result in fewer covered hospital bills for Medicare enrollees in the not-too-distant future.