Policy Research

The Aging of America Impact on Health Care Costs

Schneider, Edward L.

Summary

Escalating health care costs are an increasing concern for all levels of government. Health care costs keep rising because extreme government intervention has subsidized insurance companies and unregulated privatization of the medical industry. By the year 2040, the average life expectancy will rise to 85 years and above. The article states that the rapid growth of the oldest age groups will have a major impact on future health care costs. Great Britain has also been experiencing increasing health care costs when spending increased by nearly 48% on the British National Health Service

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Policy Implications

The policy implications for rising health care costs are still unclear. One might believe that because of increasing costs for medical supplies, insurance coverage, new treatments, and other goods in the health care industry, the main takeaway for concern here is American citizens will ditch health care almost completely and try to find new methods of maintaining a healthy lifestyle.