With the declining birthrate, healthier lifestyles, and life-prolonging medical discoveries, the percentage of older people in our society is set to increase astronomically. Currently about 32% of the population falls into the 50+ category; a number that is expected to increase by 33% over the next two decades, at which point the 50+ cohort will be the largest single age group. An aging population will bring about a tremendous demand for healthcare services, which will drive up the cost dramatically.
The situation gets even more complicated when one considers that an aging population means a reduced work force. Fewer workers will be contributing to social security funds to care for those no longer working. And, with improvements in healthcare, particularly in geriatrics, the demand for these services will skyrocket, resulting in a shortage of services and a dramatic increase in costs.
A new strategy is needed that anticipates this increase in demand and lays some solid groundwork to avert a disaster of major proportions.
Many experts advocate a Canadian-style government healthcare monopoly to deal with the increase in demand for health services by an aging population. In my opinion that would be a recipe for