Population aging is a shift in the distribution of a country's population towards older ages. This is usually reflected in an increase in the population's mean and median ages, a decline in the proportion of the population composed of children, and a rise in the proportion of the population that is elderly.
At least 7% of health care expenditures are estimated to go toward for the administrative costs of government health care programs and the net cost of private insurance (e.g. administrative costs, reserves, taxes, profits/losses).
Nonetheless, some analysts state that the availability of more expensive, state-of-the-art medical technologies and drugs fuels health care spending for development costs and because they generate demand for more intense, costly services even if they are not necessarily cost-effective.
Developing new state-of-the-art drugs is costly, because of its nature. There are many factors that affect how the medicine will perform in the body and the potential side effects. The cost for many projects, or medicine, is the research and development process where money is used. The new technology in medicine is helping humans live longer and they would demand more health care as they age.
many fiscal policy makers are acting as if the boomers are eternal teenagers and are turning a blind eye to how the boomers’ aging changes how we should approach economic policy.
The main reason expenditures are rising this decade is that spending on Social Security, Medicare and Medicaid is increasing by a whopping 3.7 percent of G.D.P. as the baby boomers age and retire.
Monaco, one of the world's most densely populated countries, is home to the oldest population. It leads eight other European countries in the top 10 list.
The world is rapidly aging. A whopping two billion people will be 60 years and older by 2050, more than triple the number in 2000, according to the World Health Organization.
The United States has a smaller share of older persons than many developed countries, and its population is graying at a slower pace. Japan currently leads the world with nearly one-quarter of its population ages 65 and older, followed closely by Italy and Germany.
By state, the highest aging population percentage of 60 years and above by 2015 is 26.7 percent in Florida.
The older population--persons 65 years or older--numbered 39.6 million in 2009 (the latest year for which data is available).
They [baby boomers] made up almost 40 percent of the nation’s population.