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This paper centers the discussion about the supply and demand of the health care cost associated to the aging baby boomers, and its effects onto the national economy. Finally, a conclusion will be drawn to justify the researcher’s analysis within the general scope of the study.
Approximately after ten years, the general population of the baby boomers will range between 51 to 70 years old (Court, Farrell, & Forsyth, 2007). Baby boomers should be enticed to work after their retirement stage. Because of the growing demand for baby boomers to continue their participation in the workforce, some fractions of the national policy should be amended. Further, 69% of the baby boomers are not yet ready to adopt new lifestyles (Beinhocker, Farrell, & Greenberg, 2009).
Baby boomers will report 40% of the United States’ expenditure by 2015, especially onto the disproportional division of growth and expenditure in industries from healthcare (Macunovich, 2012, p. 3). It was unearthed that the oldest baby boomers are fiscally unready to leave the workforce and are not conscious about their quandary (Beinhocker, Farrell, & Greenberg, 2009). It was found that more than half of the total population of the baby boomers was determined to work after their formal retirement (Court, Farrell, & Forsyth, 2007). As a matter of fact, baby boomers’ workforce is increasing nowadays. After their retirement stage, baby boomers will still tend to work despite their age (Macunovich, 2012, p. 3). The growing demand for this cluster is relatively high due to economic turmoil that is happening nowadays. Baby boomers tend to continue working because they need to cover up their consumption by gaining no more than 80% of their standard income. As to that, there would be 40% of them active in the workforce at age 65. By 2015, 33% of the baby boomer workforce will reach over the age 50 (Court, Farrell, & Forsyth, 2007). Approximately, 83% of them are receiving social security benefits
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Some of the countries facing the challenge of the aging population include Japan, Italy, Germany, China, Mexico, India, the U.K., and the U.S. among others. Research indicates the world’s population is aging very fast such that it has been projected that the elderly people above the age of 65 years will soon outnumber children below the age of five years, which will be a history in the making2.
Different causes have been identified for this effect, suggesting that primarily, it may be due to the ‘pill’ obsessed American mindset. So firm is this mindset of users to consume prescribed drugs that, medical professionals are at times constrained to prescribe ‘Placebo’; which is simply a sugar and glucose pill, devoid of any chemical or an active ingredient.
How Electronic Sharing Of Health Information Affect the Quality of Health Care Introduction In the deliberations of a report produced by the Institute of Medicines in 2001, it was noted that the increasing use of the World Wide Web and the Internet is changing how people view health care deliver services.
National programmers have predicted that this emerging trend may lead to a pension payment problem for the Chinese state and may reduce the China’s ability to compete in the world market in few days to come (England 2). The prediction is that the same trend will definitely lead to creation of growing demand for the health care products and nutritional services in China.
Organizations must develop directions and strategies to tackle such challenges effectively. Proposed health care reform and legislation Although it is an advanced and complicated trade, the health care diligence has been an integral necessity for humans. Individualized care is projected to continue to develop as the citizens keep aging, and health along with medical issues of specialized conditions like heart problems and cancers keep on increasing.
The concept of gender splitting explains the experiences of my grandmother that she had while growing up. Both men’s and women’s roles were clearly defined. My grandmother worked with a rug making company after getting married, thus intertwining the roles of homemaker as well as provider, that is known as gender splicing.
It is a main belief that children normally follow the values bequeathed to them by their parents but in this case a generational gap was widening between the parents and their children. What caused this gap? They are the events that each generation experienced around them that brought about this generational gap.
This is why these people become the subject for mistreatment. It had been a social policy but in the recent decades it has become a major issue in the health and social services. Elder mistreatment can be defined as the intentional harm created to an elder by any person who is related to the elder.