In the United States, there is a steady growth in the number of people who are retiring due to old age in the Industrialized and developing nations. In the same way, the number of people who are pursuing college educations and other Higher education programs is, over the years, increasing with the progression of the World’s knowledge base. More baby Boomers are investing more in education and hence reducing their working years. The most important consideration of this is whether, as time goes by, the Policies in the health Industry will be able to cater to the already aged and the aging population of the Baby boomers through the entitlement systems (Knickman & Snell, 2002) .
The Congressional Budget Office has provided a health reform plan that is to take care of the current healthcare system in America. This plan will look at the viability of Health Insurance and pension plans and from that determine its implications for savings and investments rates. The report suggested the plan include an age-adjusted tax credit that will allow the purchase of health insurance and a fund for establishing reinsurance and cost sharing programs for the states riskiest enrolees (World, 2001) . However, this would mean the low-earning-almost elderly person, would not be able to offset the Medicaid Expansion through the cost reductions (The elimination of cost-and-income based premium tax credits). They would be forced to pay more as compared to younger people due to the implementation of the age-rating scheme. This age rating structure would gradually increase the total premiums to be paid and reduce the amount of assistance offered by the federal government (II, 2017) .
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With the implementation of this particular healthcare, as people age and enter into retirement, they would find it difficult to pay for medical health insurance. Elderly people would, by the progression of ten years, increase in number, and the number who aren’t covered by a health plan increase. The baby Boomers as they reach the retirement age would also struggle in affording healthcare and most would be paying for their own health care plans. The Increase in the number of people entering social security as they wouldn’t have attained enough income years to earn enough pension and in the event they do not have an affordable employer coverage, they will have it worse off. Older people will be required to pay for their own health insurance (World, 2001) .
In order to meet the long-term needs of the aging baby boomers, the current government will have to start making changes to the policies and Entitlement systems that are currently in place. These systems however must also take into consideration the care of the already aged group of elderly people presently existing and surviving with the current Entitlements and Medicare Systems and health Insurance Plans put in place.
References
II, V. R. N. (2017, March 14). How the American Health Care Act Leaves Near-Elderly People Behind. The Atlantic . Retrieved from https://www.theatlantic.com/politics/archive/2017/03/ahca-trumpcare-older-sicker-voters/519423/
Knickman, J. R., & Snell, E. K. (2002). The 2030 Problem: Caring for Aging Baby Boomers. Health Services Research , 37 (4), 849–884. https://doi.org/10.1034/j.1600-0560.2002.56.x
World, N. R. C. (US) P. on a R. A. and N. D. for an A. (2001). The Health of Aging Populations . National Academies Press (US). Retrieved from https://www.ncbi.nlm.nih.gov/books/NBK98373/
