The Aging Population Is To Blame For Uncontrollable Healthcare Costs
The Mythbuster’s take on the issue based on the facts, Canadians 65 years of age and older is increasing as the baby boomer generation in reaching the retirement age and older adults need more medical services than younger people, is that the media has invoked this fearsome image that the aging population’s expenses are inflating overwhelmingly until the system comes to be unmaintainable resulting in increased taxes and/or cuts to the services. However Mythbuster’s show that just because there is an increasing number of a senior, healthcare does not inflate uncontrollably and all this concern isn’t based in reality.
This is an important issue because the baby boomer generation is reaching its retirement age and there are concerns that their generation will be retiring in a worse health condition than their parents were and the health care system of today will not be able to deal with their healthcare needs. According to studies from the ‘The Commonwealth Fund’ 60% of adults between the ages of 50 and 64 currently employed have been identified with at least one chronic health condition. The numbers of elderly is rising rapidly in most developed and many developing countries. The cost of aging in 2002 in Canada was over $8000 per year for seniors compared to around $1500 for someone under the age of 65.
In my opinion I agree that this is a concern and a very important issue however it is not as concerning as it is being subjected. It is relatively know that seniors will cost more for a health care system comparatively to an adult less than 65 years of age because as you get older you get older your body goes through a transition and starts to deteriorate slowly, requiring more healthcare. In today’s day and age compared to the past, we have better health care and through the advancements in our technology we have an improved healthcare system. Seniors today live longer than the seniors of...
Please join StudyMode to read the full document