Nobody downloaded yet

Economics of Aging in Terms of How it Relates to Long-Term Care Facilities - Essay Example

Comments (0) Cite this document
Summary
The essay " Economics of Aging in Terms of How it Relates to Long-Term Care Facilities" describes that an organized, effective and coordinated regulatory authority should be put in place to ensure that all what has been invested by the social security systems is in safe place for workers after retirement…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.2% of users find it useful
Economics of Aging in Terms of How it Relates to Long-Term Care Facilities
Read TextPreview

Extract of sample "Economics of Aging in Terms of How it Relates to Long-Term Care Facilities"

Download file to see previous pages Economics of aging lays focus on the demographic trends of the population and the implications of population trend changes on the economy of the area under consideration. From the available information worldwide, it is well documented that the steady low fertility rate will have unavoidable results in the economy in terms of the age difference and so will be the generational gap.  As a way of example, China’s one-child policy indicates that twenty years from now, the nation’s aging curve will be steep, meaning that most of its population will be composed of old people compared to youths. Elsewhere in France, fourteen years from today, 2025 demographic trends indicate that four out of ten people will be fifty years or older. Reasons for being priced out Political measures taken to improve the economic conditions of different territories in the world affect some groups of people adversely, especially the aged. As an example the U.S underfunding of long-term Medicare and social security affects people negatively in the long-term. The people have to work harder to cater for the deficit, or alternatively reduce the present standards of living in order to suit future cash requirements on this regard, only few people of the entire population are financially prepared for this challenge (Wise, 1987). Changes undertaken in the financial sectors for the betterment of long-term savings of the working people have great impacts in the future outlook in the future savings. Taking U.S economy as an example, for the last twenty five years, defined benefit pensions, which used to be the primary means of retirement savings has eventually been replaced by personal retirement accounts. This transition has very strong effects with regard to worker participation and the saving rates. It is most probable that participation and saving rate will be more when there is a form of regulation, meaning that an automatic enrollment is adopted and people at a certain bracket qualify for participation in the scheme by default. On the side of the personal retirement accounts, some form of autonomy is given to the contributors, this meaning that the relaxed regulations makes some people weigh the issue of participating or not. In the long-term, some people may be left out of the contributors (Schulz, 2001). The way the contribution scheme is designed also has effects on the number of people participating in the saving for future. Using the above example, complications arising from establishing individual account in the social security system can be illustrated. From a perspective of time saving, many people try to avoid as much as they can tedious and cumbersome processes in getting services from an institution.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Economics of Aging in Terms of How it Relates to Long-Term Care Essay”, n.d.)
Economics of Aging in Terms of How it Relates to Long-Term Care Essay. Retrieved from https://studentshare.org/sociology/1433446-economics-of-aging-in-terms-of-how-it-relates-to
(Economics of Aging in Terms of How It Relates to Long-Term Care Essay)
Economics of Aging in Terms of How It Relates to Long-Term Care Essay. https://studentshare.org/sociology/1433446-economics-of-aging-in-terms-of-how-it-relates-to.
“Economics of Aging in Terms of How It Relates to Long-Term Care Essay”, n.d. https://studentshare.org/sociology/1433446-economics-of-aging-in-terms-of-how-it-relates-to.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Economics of Aging in Terms of How it Relates to Long-Term Care Facilities

Long Term Care Insurance

..., there still exist doubts and a clear non-market for the products. Certain individuals would never require Long-Term Care.  A report (Federal Citizen Information Center, 2004) specifies that people over 65 years old face at least a 40% probability of one day requiring nursing home care.  Around 10% would reside in nursing homes for 5 years or more. Since the American population is ageing, it is noticed that the age group over 85 years is the fastest-growing segment of the population due to advances in medical technologies. Hence, the odds of arriving into a nursing home facility and residing for longer periods grow with...
8 Pages(2000 words)Essay

Long-Term Care

...the objections is the concern that as time passes by and the consumer gets older, the premium rates will escalate greatly if people have to wait until they are likely to need it before making the initial purchase. The targeted age groups are young adult and middle-aged population. More than worrying about something as far off as long-term care, most of the demographic is beset by many other financial demands such as meeting daily needs, putting their kids through college and taking care of their own parents, which they consider as more pressing and urgent (Pratt, 2010, p.p. 54-55). Last but not the least, most of the population believes...
8 Pages(2000 words)Essay

Pennsylvania's Long Term Care Facilities

...from experience that no corrective action would be taken despite a valid complaint. This indicates the futility of the system that has legal implications and social applications (Fulmer, 2006). Before going into the legal measures that are in place against these abuse and neglect, it is important to understand their significance. There are two characteristics that embody all elders in the long-term care facilities. They suffer from one or more disabling and chronic conditions and all of them are dependent. They are dependent because their familial, economic, and personal resources have decreased with their increasing age (Furness,...
11 Pages(2750 words)Essay

Long-Term Care

...Long-Term Care The current of the long-term care system of the United s has been brought about by the forces stemming from the combination of demographic, socio-economic and cultural factors and of the policy directions or choices that the government, both at the state and federal levels has chosen to follow in response to long-term care issues. Although long-term care is not limited to the elderly, as long-term care is also needed by anyone who need assistance in every...
6 Pages(1500 words)Essay

Hospital and Long-Term Care Facilities

...extend a more personalized care to the patients (Shaughnessy, Schlenker & Kramer, 1990). Long term care is an issue of immense importance in the context of healthcare. This is because right now the US is the home to a considerable pool of aged patients who have long term care needs. This pressure is further augmented by the fact that the aged in the United States today live longer as compared to their ancestors. In that context, varied issues are being faced by the policy makers. Going by the high cost of long term care, it is important...
4 Pages(1000 words)Research Paper

Long-Term Care

...is important in health care, as it is in most other intimate personal relationships (Agrawal, Ehrbeck, Packard & Mango, 2005). The growing demand and the desire for more choices have fueled an increase in competition within the field of long-term care, which has created a need for more efficiency and effectiveness. Providers have been forced to enter into the world of public relations, marketing and business, which led to generating a whole industry specialized in health care. It has, at the educational level, led to development of graduate programs in business but with specialty in health administration. All this development happened...
12 Pages(3000 words)Essay

Long Term Care Facilities

... Long Term Care Facilities November The healthcare facilities’ quality of care maximization occurs when both clinical and satisfaction standards are achieved. Healthcare facility quality of care includes valuable dining experiences. Health care encompasses filling the patients’ mental and physical demands. Long term care facilities include setting the employees’ value-based dining experience standards. Ensuring Dining Practice Standards are met During the implementation of the quality dining experience to the residents of the long term care facility, management must ensure dining practice standards are met. First, management sets the dining experience employee standards. Food service standards include setting the centralized... to mingle...
2 Pages(500 words)Essay

Long Term Care Insurance

... Long Term Care Insurance Introduction Long Term Care insurance policies help many individuals to receive the expensive nursing homes and assisted living facilities. Long term insurance solves one of the biggest fears of Americans to spend all their life savings on expensive nursing costs and medical bills. However, insurance is a way through which Americans can cover their expenses at an old age. Most of the financial advisors would advice insurance policies yet the long term care insurance has received lesser...
4 Pages(1000 words)Essay

Long term care

...Courtyards at Pasadena Long-Term Care Facility Courtyards at Pasadena Long-Term Care Facility Introduction Long term care in the United States currently involve the provision of a wide range of medical, rehabilitation and support services intended to help meet the diverse needs of frail senior persons and patients with functional limitations due to chronic illnesses, physical or cognitive injuries and mental disabilities as well as other health related conditions. However, despite the existence of excellent long...
12 Pages(3000 words)Term Paper

Long term care

...al affiliation Introduction Long-term care facilities are facilities that provide specialized and professional care to people who are in need of assistance. A relatively good number of people need help on the basis of their lifestyle and the activities they do on daily basis. Long-term care facilities, therefore, provide services like rehabilitation and nursing care to people who need assistance. Long term care facilities also restore the health and psychological conditions of the...
1 Pages(250 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Economics of Aging in Terms of How it Relates to Long-Term Care Facilities for FREE!

Contact Us