“Census: U.S. is aging, growing more racially diverse”

“Census: U.S. is aging, growing more racially diverse,” by Matt Rourke, CBS News

“The Census Bureau reported that the median age of Americans — the age at which half are older and half are younger — rose nationally from just over 35 years to nearly 38 years in the years between 2000 and 2016, driven by the aging of the “baby boom” generation. The number of residents age 65 and older grew from 35 million to 49.2 million during those 16 years, jumping from 12 percent of the total population to 15 percent. That’s a costly leap for taxpayers as those residents move to Medicare, government health care for seniors and younger people with disabilities, which accounted for $1 out of every $7 in federal spending last year, according to the Kaiser Family Foundation. By 2027, it will cost $1 out of every $6 of federal money spent. Net Medicare spending is expected to nearly double over the next decade, from $592 billion to $1.2 trillion, the KFF reported.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Not to mention Medicaid and long-term care! Yet those same folks at the Kaiser Family Foundation continue to insist we can do nothing about these exploding costs. See today’s “LTC Bullet: Is it Really Hopeless to Reduce Medicaid LTC Costs?”

Census: U.S. is aging, growing more racially diverse