It is projected that in Fiscal Year 2008 we will spend nearly $600 Billion dollars on health care entitlement programs alone (i.e., Medicare and Medicaid). Demographic changes contribute to this health care fiscal challenge. America's population is aging,
It is projected that in Fiscal Year 2008 we will spend nearly $600 Billion dollars on health care entitlement programs alone (i.e., Medicare and Medicaid). Demographic changes contribute to this health care fiscal challenge. America's population is aging, and the aged use greater health care services. For example, from 2007, the percentage of the population aged 65 and over will gradually increase until it nearly doubles, reaching a rate of greater than 20 percent of the population by the year 2047. Not only are the baby boomers aging, but they are living longer, which means they will utilize more of the Medicare and Medicaid entitlement program benefits for longer periods of time.
