Preview

The Rapid Ageing Population

Satisfactory Essays
Open Document
Open Document
480 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Rapid Ageing Population
Ageing population
Between now and 2041, the proportion of elderly citizens - defined as those aged 65 and above - in our overall population will increase from about one in seven to one in three. Government recurrent expenditure on elderly care services in the welfare sector in 2013-14 is estimated at $5.58 billion, up 12% on last year's figure. If health services and social security cash payments for the elderly are included, the amount will rise to $55 billion, representing a significant 18.9% of total Government recurrent expenditure in this financial year.

The rapid ageing population will lead to the continuous rise of the old age dependency ratio (i.e. the ratio of the non-working population who are 65 or over being supported by the working population age 15 to 64) from 172/1000 (172 non-working supported by 1000 working population) in 2010 to 227/1000 in 2021. This also implies a constant decline in labor force in Hong Kong. Ageing population
Between now and 2041, the proportion of elderly citizens - defined as those aged 65 and above - in our overall population will increase from about one in seven to one in three. Government recurrent expenditure on elderly care services in the welfare sector in 2013-14 is estimated at $5.58 billion, up 12% on last year's figure. If health services and social security cash payments for the elderly are included, the amount will rise to $55 billion, representing a significant 18.9% of total Government recurrent expenditure in this financial year.

The rapid ageing population will lead to the continuous rise of the old age dependency ratio (i.e. the ratio of the non-working population who are 65 or over being supported by the working population age 15 to 64) from 172/1000 (172 non-working supported by 1000 working population) in 2010 to 227/1000 in 2021. This also implies a constant decline in labor force in Hong Kong. Ageing population
Between now and 2041, the proportion of elderly citizens - defined as
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    CHAPTER16Government DebtQuestions For Review1 What Is
    • 2381 Words
    • 8 Pages

    CHAPTER16Government DebtQuestions For Review1 What Is

    has steadily increased, and birth rates have fallen. As a result, the elderly are becoming a larger share of the population. As more people become eligible for “entitlements”…

    • 2381 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Good Essays

    Daniel Gussow
    • 575 Words
    • 3 Pages

    Daniel Gussow

    between 2000 and 2030 seniors will have risen from 12.4% of the population to be 20% of…

    • 575 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    hcs 490 Demigraphic Paper
    • 649 Words
    • 2 Pages

    hcs 490 Demigraphic Paper

    The demographics of the aging population is changing. In the year 2009 persons 65 years old or older were numbered at 39.6 million. They represent 12.9% of the U.S. population. In 2007 people over the age of 65 had an average life expectancy of an additional 18.6 years. Also the mortality rate decreased. The baby boomers will reach the age of 65 between the years of 2010 and 2030 (“Admistration of aging”, 2011). By the year 2030 28% of the American economy will be spent on healthcare. Seniors will likely live outside of Urban areas and change their living arrangements. Seniors are finding themselves living alone and are more dependent on formal and informal support of care. The aging population has become a huge influence of health care costs. As the older population live longer they are likely to spend most of their savings and assets to afford their medical needs (“Finger Lakes Health Systems”, 2004).…

    • 649 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Hca 240 Final
    • 2162 Words
    • 9 Pages

    Hca 240 Final

    The current age composition of the United States population consists of an ever growing advanced age population. The baby boomers born around 1900-1960 are becoming the growing percentage of the aging population. The people born around this time period increased the U.S. population ten-fold. Along with the increased population, the life expectancy has dramatically increased. The average life expectancy rate is about 78 years. It is also expected to increase in population almost 1% every year. The aging population makes up 12.9% of the total U.S. population. It is projected that the majority of the population would at least 55-59 within the next 10 to 20 years. In some research studies, the distribution of child dependency and senior dependency would almost be equal to each other.…

    • 2162 Words
    • 9 Pages
    Powerful Essays
    Read More
  • Better Essays

    Age And Disability Worksheet Paper
    • 1228 Words
    • 5 Pages

    Age And Disability Worksheet Paper

    The number of aging population between the years of 2000 and 2050, are expected to rise over 135%. The aging population ages 85 and up whom health and long-term heath will need care services is expected to rise over 350%. Over this time period, the proportion of the population that is over the age of 65 will increase from 12.7% in 2000 to 20.3% in 2050; the proportion of the population that is age 85 and older will increase from 1.6% in 2000 to 4.8% in 2050 (Wiener & Tilly,…

    • 1228 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Medicare Financial Challenges
    • 635 Words
    • 3 Pages

    Medicare Financial Challenges

    Though out of pocket fees already create a financial burden, demography changes will significantly increase the number of beneficiaries, and thus increase Medicare expenditures and costs. The number of individuals surviving into Medicare age eligibility has risen steadily, due to declining mortality rate, which will result in a 67% increase in Medicare beneficiary population by 2040 (Olshansky 149). In addition the number of Medicare beneficiaries will grow by 18 million people between 2012 and 2023, as the number of Baby Boomers turning 65 is projected to grow from 7,600 per day in 2011 to 11,000 per day in 2029 (Sahadi 1). As a result, annual net spending on Medicare will increase 80%, from $508 billion to $914 billion in 2023 (Sahadi 1).…

    • 635 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Healthcare Costs
    • 1022 Words
    • 4 Pages

    Healthcare Costs

    The aging of the population and the rising cost of health care would cause spending on the major health care programs and Social Security to grow from more than 10 percent of GDP today to almost 16 percent of GDP 25 years from now. That combined increase is equivalent to about $850 billion today. ("Congressional Budget Office," 2012) The aging of the baby boomer generation will have an impact on federal spending as well as health care costs. ("Congressional Budget Office," 2012) Increase in longevity due to medical advances and technology are a factor in spending growth increases. (Henderson, 2012)…

    • 1022 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Demographics Paper
    • 1129 Words
    • 5 Pages

    Demographics Paper

    Due to the aging economy, the elderly is expected to increase. According to Weiner, M. J. & Tilly, J. (2013) “Between 2000 and 2050, the number of older people is projected to increase by 135%. Moreover, the population aged 85 and over, which is the group most likely to need health and long-term care services, is projected to increase by 350%. Over this time period, the proportion of the population that is over the age of 65 will increase from 12.7% in 2000 to 20.3% in 2050; the proportion of the population that is age 85 and older will increase from 1.6% in 2000 to 4.8% in 2050.”(Para 2). The aging population will have a huge effect on health care because of the large amount of elderly who will need acute care. Also because there is a shortage of health care professionals such as nurses and other workers, many long- term care facilities are left with workers that do not have skills to perform their jobs correctly. Also the facilities are paying low rates making it hard to hire new employees and to keep old employees. According to Weiner, M. J.…

    • 1129 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Sociological Aging
    • 1487 Words
    • 6 Pages

    Sociological Aging

    There will be more older people than younger people due to the decline in birthrates.…

    • 1487 Words
    • 6 Pages
    Good Essays
    Read More
  • Good Essays

    Therap.
    • 431 Words
    • 2 Pages

    Therap.

    This is an important issue because the baby boomer generation is reaching its retirement age and there are concerns that their generation will be retiring in a worse health condition than their parents were and the health care system of today will not be able to deal with their healthcare needs. According to studies from the ‘The Commonwealth Fund’ 60% of adults between the ages of 50 and 64 currently employed have been identified with at least one chronic health condition. The numbers of elderly is rising rapidly in most developed and many developing countries. The cost of aging in 2002 in Canada was over $8000 per year for seniors compared to around $1500 for someone under the age of 65.…

    • 431 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Aging Popoulation
    • 1375 Words
    • 6 Pages

    Aging Popoulation

    An aging population is when a country has a high number of elderly people. Elderly people are economically dependent and they depend on working people to provide for them. More money has to be therefore created to fund hospitals, nursing homes etc. This money has to be provided for by the economically dependent population. Increase in the ageing population has been accompanied many health care challenges and policy makers have been prompted to do their part and devise mechanisms of overcoming these challenges. Huge implications have been felt in the areas of organization and delivery of health care. Policy makers and other stakeholders in the health care system have faced increasing pressure to implement more cost effective and reliable care systems. One of the major shifts that have come with the increasing aged population is the need to commit more resources to manage chronic illnesses than acute illnesses. This is because, the elderly are more vulnerable to chronic illnesses such as cancer, Alzheimer’s disease, heart disease, and diabetes compared to the younger generation.…

    • 1375 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Good Essays

    Aging Population In America
    • 531 Words
    • 3 Pages

    Aging Population In America

    Within the aging population in America, there are many influences that this population has made in society on an economic and social level. In regards to the economy, there seems to be a concern on the amount of funding that is available to assist the aging population. The Older American Act (OAA) of 1965, provided funding to states to conduct research and create programs for those that were aging (Capella Library Media, 2016). The need for government funding to secure programs, such as, long term services and supports (LTSS) was crucial back in the 1900’s when the population of aging adults was approximately around 31.2 million (Capella Library Media, 2016). Within the 21st century, the aging population has gradually increased to over 40…

    • 531 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Sustainability Of Medicare
    • 841 Words
    • 4 Pages

    Sustainability Of Medicare

    This is a significant factor in calculating the spending from Medicare in the future. In addition, it is project that due to rising health care costs during the next ten year Medicare spending is projected to increase by 83% (Ochter). Medicare and associated programs are taking up a large portion in federal spending, second only to the Department of Defense. Based on this information at the current levels, that type of growth would not be sustainable. Unfortunately, this would increase the tax burden on individuals to help subsidize the cost. This falls on the working American. Based on the current trends, the working population is decreasing while, people over the age of 65 is increasing significantly. This is due in part to the “baby boomer”…

    • 841 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Aging Population In The United States
    • 433 Words
    • 2 Pages

    Aging Population In The United States

    This paper will discuss the aging (elderly) population of the United States; there has been a significant increase in elderly population since 2011. The elderly population is defined as those individuals aged 65 and over (Hogan, Ortman, and Velkoff, 2014.) However, this increase is largely responsible due to the baby boomers, as they began to turn 65 in 2011; however it is projected that by 2050, the surviving baby boomers will be over the age 85 (Hogan, Perez, and Bell, 2008.) This population consists of about 83.7 million individual which this number has double since 2012. In this paper it will discuss challenges that the older population faces with Medicare and social security.…

    • 433 Words
    • 2 Pages
    Good Essays
    Read More
  • Best Essays

    Influence of Health Care Delivery
    • 1924 Words
    • 8 Pages

    Influence of Health Care Delivery

    With our population of baby boomers which are born between 1946 and 1964 they will start to turn 65. This means that our numbers of aging people is likely to double from what it is now. This also has an increase due to immigrants arriving from 2005 to 2050. In the United States our aging is graying at a much slower pace. By 2050 we are expected to have one fifth of our population retired. The increased number will have a huge impact on the United States structure of many programs. The rapid change can have major social and economic issues when we do not plan for them ahead of time. “The postwar baby boom in the United States has strained local hospital, public school, and postsecondary education systems, as well as the labor force as these unexpected large cohorts have moved through the life cycle. U.S. population aging has been long predicted.”(Kevin Kinsella and Wan…

    • 1924 Words
    • 8 Pages
    Best Essays
    Read More

Related Topics