Baby Boomers and Seniors are projected to form the biggest generation of older citizens in the history of the United States. This situation is predicted to alter social scenes plus exert a huge financial pressure on federal and state budgets. Projected U.S. populations, which experienced a net loss of its youngest members in the 1980s and 1990s, will become a magnet for retirees in the future. Rapidly, aging is upon us. In many cases, we could see a rise in number while the youth population declines.
Population By Selected Age Groups
Some dooms-dayers predict unmanageable public costs in the years ahead. Some point to a number of other circumstances, such as higher levels of income, education, and functional capacities among the elderly, that could actually soften the fiscal impact of an aging population. Regardless, the "new" face of our population will force dramatic changes.
Trying to manage the slower pace of older citizens in pedestrian and highway traffic to meeting a wider range of housing needs, from providing incentives for extended labor force participation with later retirement, to improving population health through increased attention to prevention and wellness, the challenge appears to be, to manage the costs of an aging population while capturing its abundant promise. Aging Seniors have a lot to offer.
The top priorities we focus on today:
1. Meeting the needs and costs of health care for older citizens. Over the long haul, the impact of growing health care consumption combined with the demographics of aging, could seriously erode "public" resources. In the future, expenditures for just three mandatory federal spending categories-publicly financed health care, Social Security, and interest on debt-could possibly deplete almost all projected revenues based on current tax rates. Medicaid expenditures, the majority of which go to meet the cost of nursing home care residents for our older citizens who meet income guidelines, have risen in past years.
2. Health care resources such as prescription drugs, home health, dental, medical and eye care might reach a critical status. The elderly need to maintain their health and long-term care costs. They spend a large proportion of household income on health care expenses, The burden for the poor is far higher. Those with incomes below the poverty level spend a fair amount of their incomes on health care.
3. Fortifying the role of families in the care of dependent older citizens through enhanced support for respite care, adult day care, or alternative services is essential.
4. Supporting the role of families in the care of dependent older citizens through tax subsidies, or direct income "for" caregivers is certainly a concern. Families should play a stronger role in the care of elders and giving some type of assistance to these families is critically important.
5. Developing long-term care solutions is highly favored. The nursing home population could be projected to expand as people age. Out-of-pocket expenses for older citizens and their families are predicted to grow. Through taxes, citizens actually shoulder much of the remaining cost. There is a lot to consider when the aging population will be counted, in record numbers.
Ley Gal & Bill Vannot Publisher http://www.seniorlifechanges.com
Ley Gal and Bill Vannot have a vision for Boomers and Seniors. Yesterdays revolutionary new products and services will be outdated tomorrow. People need to revise their skills in order to adapt to the changing circumstances. Visit Ley and Bill for help and guidance on the aging population. http://www.seniorlifechanges.com
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