Preparing for the Silver Tsunami

eldertsunamiMark Twain once wrote that age is an issue of mind over matter. If you don’t mind, it doesn’t matter. 
While one can appreciate Twain’s whimsical thought, the current demographics of aging are sobering.  In 2005 12 percent of the U.S. population was age 65 or older, in 2030 that number is expected to increase to nearly 20 percent.  This silver tsunami will present our society with numerous fiscal, social, and governmental challenges.

Not only will there be more older Americans but with continued advances in medicine this group will live longer lives which will require more assistance from the health care profession and caregivers. The stress on our health care system will be enormous. Costs will increase dramatically and shortages of medical care workers such as nurse aides, home health aides and personal home care aides will press family members or friends to serve as informal caregivers even though their will be fewer family members available due to decreasing birth rates, the number of married children who have dual income families who often reside considerable distance from their parents.

Presently more than 75 percent of adults over 65 suffer from at least one medical condition requiring on-going care, and 20 percent of Medicare subscribers have five or more chronic conditions. The Federal government spent $390 billion on Medicare benefits in 2008, of that amount $50 billion was for physician and hospital costs during the last two months of subscribers’ lives. The added costs for the upcoming bulge in those 65 years of age will be difficult to sustain and are likely to prompt more consideration to cost effective homecare, better management of hospital and physician costs, and more aggressive preventative measures for conditions such as diabetes, high blood pressure, and heart disease.

Faced with the uncertainty associated with the changes that will take place as a result the increase in the number of older Americans and recognizing the complexity of gaining access to services that will ensure a robust quality of life for older Americans, preparing for the future takes on a new level of importance.

(photo: mikebaird)

{ 8 trackbacks }

Increasing Demand for Elder Care Services | Elder Parent Help
March 23, 2010 at 8:05 AM
Changing Demographics Have Broad Impact | Elder Parent Help
April 21, 2010 at 7:48 AM
WellAWARE Sensors Help Seniors Live at Home | Elder Parent Help
June 2, 2010 at 6:03 AM
States Reduce Medicaid for Elderly
April 13, 2011 at 8:51 AM
New Definitions for Stages of Alzheimer's
April 22, 2011 at 7:17 PM
Preventative Medical Care Needed for the Elderly
July 17, 2011 at 3:29 PM
Tips for Visiting the Doctor
October 4, 2011 at 8:52 PM
Elderly Data
December 7, 2011 at 2:55 PM

{ 3 comments… read them below or add one }

Alena January 23, 2010 at 12:16 AM

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


Randall P January 23, 2010 at 10:43 AM

Glad to hear it! The static content will be updated on a daily basis, along with new blog articles 1-2 times a week.

Follow this link to receive email updates on the blog

Let us know if there are any specific topics you would like more information on. February 24, 2014 at 12:17 AM

First method Is the fastest one for selling your car. You have to take it to the dealer who sells cars. They will determine the price of your car. Then they will deduct the price of your used cars from the purchase of a new car. You should know the value of your car so that your car would sale for a fair price.

Leave a Comment

Previous post:

Next post: