Example Essays Home
FAQ
Acceptable Use Policy
Tech Support
LOG IN!
Click HERE for Instant Access
 
This is a free preview of the paper.
Join Now
Log In
  

Financial Implications of Longer Life Expectancy

Financial Implications of Longer Life Expectancy

It is evident that American seniors make up a large part of the United States' population and that the average life expectancy has increased as it is one of the fastest growing demographic segments of American society today. Members of the baby boom generation will soon begin to retire in large numbers around 2010 and ultimately force federal agencies to devise, reform and put into effect regulations and programs to adjust to the growing number of elderly people. What can be done to accommodate them as well as the already existent older crowd? Offering employment to people 65+ may be of great assistance to the economy, the industry itself and especially the seniors themselves.

According to the U.S. Census Bureau, the number of seniors, aged 65+ has tripled since 1900 along with the older population getting older. Approximately one out of every six or 45 million people are over the age of 60 and there is without a doubt that they can enjoy living well into their 80s and 90s due to technological advances, medical improvements and healthier lifestyles.

On another note, there has been a decrease in the mortality rate. The combination of life longevity and a declining death rat


Many areas of the public life will be greatly affected by the aging baby boom generation as they begin to turn 60 around 2006 and 65 by 2011. The number of elderly people constitutes 13% of the American population today, according to the Administration on Aging. Since the number of elderly and the rate of aging are expected to increase steeply (see chart), it calls for an increase in healthcare providers, therefore greater expenditures (federal and personal) as well as influence much of our social lives regarding family, education, business and government.

Hospitals have undergone extensive changes that have allowed healthcare to be delivered more effectively and less expensively. With the emergence of ambulatory care centers it no longer required patients to receive medical and therapeutic care on an in-patient (overnight stay) basis if not medically necessary. Other changes include the continued growth of HMOs, PPOs, integrated delivery systems, nursing homes, assisted living centers and other facilities. However as the economy forces the healthcare industry to "curb" its costs and at the same time survive, more and more efficient methods of delivery are being developed everyday.

Many of the job opportunities today no longer require physical strength and endurance but that of experience and knowledge. Since more people are living healthier and longer, there seems to be less of a need to retire at the contemporary age of 65. Organizations should consider the amount of knowledge, experience and abilities that accompanies with age in certain workers and disregard the common stereotypes about the older population being hindrances.

Another plus for seniors reentering the workforce is that companies do not have to worry about benefits, insurance, vacation days, personal days, sick days, overtime and other expenditures related with full time employees. Given that seniors would work for a few hours, the company can hire part time employees to fill in the rest of the workday. Furthermore most of them will work without the intentions of making a living but to earn a pocket money to spend. Hence their pay would not have to be as great as others demand it to be.

In conclusion, the baby boomers are growing at an alarming rate. It is estimated that by the year 2050, the number of American 65 and over will increase more than 50%, according to the Growth of the 65+ Population, by Age Group: 1900 to 2050 chart. Federal agencies are looking for measures to incorporate and reform both existing and new fe

Some topics in this essay:
Doe Associates, Census Bureau, Population Age, Administration Aging, Medicare Medicaid, United States', Health Insurance, II Improvised, Sloane Harder, HMOs PPOs, baby boomers, healthcare industry, medicare medicaid, mental breakdown, jane doe associates, boom generation, elderly people, care centers, world war, federal agencies, growing elderly, functioning optimal level, hold onto aging, baby boom generation,

Join now to see the rest of the essay!
Approximate Word count = 1703
Approximate Pages = 7 (250 words per page double spaced)


  

More Essays on Financial Implications of Longer Life Expectancy


Professional Papers:
Advances in Medical Research7662 words
Women and Financial Planning7821 words
National Health Insurance for the US1805 words
ElderlyFinal2649 words
A Critical Overview of the IMF and the World Bank3227 words
Care ampamp Rights of the Elderly ampamp Disabled in the EC6388 words



Student Written Papers:
The ageing workforce in HRM1304 words
The Effects of Single Families in the United States.1587 words
HealthCare2632 words
Racism3543 words
REPORT ON THE MANAGEMENT OF PEOPLE HRM OR PERSONNEL2594 words

Look at even more essays on Financial Implications of Longer Life Expectancy
More Misc Essays

Join Now
(Credit Card)
Join Now
(Online Check)
Join Now
(Phone 1-900)



CUSTOMER SERVICES




Acceptance Essays
Arts
Custom Essays
English
Foreign
History
Miscellaneous
Movies
Music
Novels
People
Politics
Religion
Science
Sports
Technology
Book Notes

 

 


All papers are for research and references purposes only!
Copyright © 2002-2009 ExampleEssays.com DMCA
Saved Papers