The Coming Health Crisis: Who Will Pay for Care for the Aged in the 21st Century? - Hardcover

Wolfe

Hardcover

ISBN 10: 0226905152 ISBN 13: 9780226905150

Publisher: University of Chicago Press, 1993

Synopsis

By the turn of the century, the largest generation of Americans in history, the "Baby Boomers, " will be approaching age 65 years. But as the demand for health and long-term care is growing dramatically, health care programs have been shrinking instead of expanding to meet the older generation's needs. In this timely book, John R. Wolfe offers practical solutions to the coming health crisis, exploring innovative ways of developing insurance plans for the care of the large, aging "Baby Boom" generation and beyond. In previous decades, when younger Americans far outnumbered older ones, retirees could depend on financial support through taxes from the population at large. But as "Boomers" retire and the work force begins to shrink, there will be a disproportionately large population of retirees to workers. With such a big jump in the percentage of older Americans in the population, fewer workers will be able to transfer funds, through taxes, to retirees. Moreover, other traditionally reliable sources of financial assistance - Social Security, Medicare, and Medicaid - have faced serious financial difficulties in recent years. Who will the aged turn to for assistance? The Coming Health Crisis suggests that as funds from all quarters dwindle, older Americans will have to look to alternative programs for financial assistance. Wolfe urges immediate action to develop new saving programs and increase existing transfer schemes to head off an imminent crisis. Although tax increases might provide some resources, he demonstrates that it is more important to accumulate capital to create solid reserves for the future. Wolfe also explores two roles for government: prefunding new or existing socialinsurance programs and promoting private insurance options. By exempting insurance fund income from corporate taxation and permitting people at all income levels to defer income tax on accounts earmarked for long-term care, he shows how government could greatly encourage and expand per

About this title

Synopsis:

Examines medical and economic trends and discusses current and proposed solutions to the potential health care crisis of the baby-boomer generation in the twenty-first century.

About this edition

• Publisher: University of Chicago Press
• Publication date: 1993
• ISBN 10: 0226905152
• ISBN 13: 9780226905150
• Binding: Hardcover
• Number of pages: 172