Retirement Age Essay

1670 Words 7 Pages
The biggest explanation for this increased retirement age is due to the fact that the Baby Boomer generation is living longer . Medical advancements during the past several decades have been the main contributing factor in extending the average American’s life expectancy. “Thanks to major advances in medicine, fewer people die at an early age from heart disease and cancer. For example, the five-year cancer survival rate improved from 50 percent in the mid ‘70s (1975-1977) to 66 percent at the turn of the 21st century (1996-2002)” quoted by the American Hospital Association (Coye, DeMello, Joseph, & Ellington, 2007). Major chronic diseases have become less life threatening. Doctors, surgeons, and medical pathologists have found therapies …show more content…
With such a large cohort of individuals reaching retirement age (also the age at which they are able to receive Social Security and Medicare , the dividends given to each elderly individual are going to be slim to none. There are two important terms when discussing Social Security and Medicare; providers and beneficiaries. The providers are those providing the funding through taxes on income, financing Social Security and Medicare. They are the generation anywhere between ages 15 and 65 years old. There are also the beneficiaries, which are the ones receiving the benefits of these programs, usually those in the 65+ age group. In 2008, an article was published in the Independent Review, titled “The Anatomy of Social Security and Medicare”, which …show more content…
From college education to hospital and nursing home resources to funding for Social Security and Medicare, many changes must be made swiftly to avoid a potential collapse in the healthcare system. Realizing and acting on the potential crisis requires efforts from all areas. Primarily, college/ university nursing programs need to expand their programs. In order to reach the required demands to operate healthcare facilities, the AMA has “estimated that the number of new nursing graduates would have to increase by 90% every year” (Coye, DeMello, Joseph, & Ellington, 2007). Though GPA provides important information in regards to a student’s work ethic, commitment, and attitude towards their education, nursing programs will have to increase the amount of students accepted. For colleges to successfully expand their programs, they will need to add facilities, proper technology, and education material. They will also need to increase their amount of faculty and staff for the program. Unfortunately, all of these changes could come as an extreme cost for the

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