As
a population ages, pressure is placed on social welfare programs as older
people outpace the labor force required to pay for them (Newbold, 95). The cost of providing services for the aging
population ends up being paid for by a smaller labor force. This can threaten the stability of a
country’s economy because more energy goes into supporting the elderly than it
does for children and the next generation of workers. As the elderly require a disproportionate
share of medical services, it exacerbates the problem even more (ibid.). With an inflated market, healthcare premiums
may become too expensive for young people to afford insurance, impacting their
own health. Also, the younger generation
may need to stay home longer to help care for older family members before they
can begin a stable career.
To improve the situation, the minimum age of eligibility for receiving Social Security, Medicare, and pension support should be raised. In 1965, when the U.S. implemented these services for the elderly, life expectancy was only 70.2, leaving about five years of support after retirement. In 2025, the U.S. life expectancy has reached 79.4 (Macrotrends)- a difference of 9.2 years. It stands to reason that since life expectancy has increased by 9 years since these programs started, the minimum age of eligibility should be raised accordingly to about 74 years of age. However, the government may want to set the bar lower to avoid a backlash- say at 70 years of age to start. This will help cover the mounting costs of Social Security and Medicare that weren’t accounted for when the programs started, and life expectancy was a lot lower.
Sources:
Macrotrends. U.S. Life Expectancy 1950-2025.
https://www.macrotrends.net/global-metrics/countries/usa/united-states/life-expectancy
Newbold, K. Bruce. 2021. Population Geography: Tools and Issues. Rowman & Littlefield. Lanham, Maryland
To improve the situation, the minimum age of eligibility for receiving Social Security, Medicare, and pension support should be raised. In 1965, when the U.S. implemented these services for the elderly, life expectancy was only 70.2, leaving about five years of support after retirement. In 2025, the U.S. life expectancy has reached 79.4 (Macrotrends)- a difference of 9.2 years. It stands to reason that since life expectancy has increased by 9 years since these programs started, the minimum age of eligibility should be raised accordingly to about 74 years of age. However, the government may want to set the bar lower to avoid a backlash- say at 70 years of age to start. This will help cover the mounting costs of Social Security and Medicare that weren’t accounted for when the programs started, and life expectancy was a lot lower.
Sources:
Macrotrends. U.S. Life Expectancy 1950-2025.
https://www.macrotrends.net/global-metrics/countries/usa/united-states/life-expectancy
Newbold, K. Bruce. 2021. Population Geography: Tools and Issues. Rowman & Littlefield. Lanham, Maryland
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