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The Boomer Generation

10,000 Boomers turn 50 every day.

The Baby Boomer generation is America’s largest, wealthiest and most influential in history.  Born between 1946 and 1964.  By 2015, 78 million Boomers will be at least 50 years old.  By 2030, the over-65 population will be double what it is today.  The effects will be profound – on society, on our institutions, on our economy… and on Boomer families who will deal with the realities of aging parents.

Their parents’ lives will have been prolonged by modern medicine and world-class healthcare.  But longevity does not necessarily mean quality of life.  Despite wonderful healthcare, aging brings inevitable results.  And those results require care.  Extensive, expensive care.

Who will pay for it?  Government already pays for the majority of long term care in the U.S.  But what happens when the pressures of funding Social Security and Medicare grow as the Boomers age into their 60s and 70s… and 80s?

Today about 30% of Medicaid dollars are spent on the last year of life.  Prolonging life is the focus of our national healthcare policy.  And what of the impact on families who must deal with this high level of care.  Who’s going to pay for all this?  It’s going to come.  No medical breakthrough will stop time from its inevitable effects.  The Boomers, who have changed virtually everything else in their wake, will change how our nation addresses this growing challenge.

In the meantime, each of our families faced with the challenge of caring for aging parents must find our own answers.  After more than four years of searching for answers, we decided to share our experience, be helpful however we can… and learn from peers sharing their experiences.

We’re in this together.  Join us.

 

Source:  Boomer Consumer, Matt Thornhill and John Martin 2007

 

 

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