How Will an Aging Population Affect Canada's Ability to Invest for the Future

Introduction4

Research Question5

Literature Review5

Cultural Effects6

Additional Effects of Demographic Variability7

Essential Factors Impacting Healthcare Expenses8

Health Care Expenses & GDP8

Drivers of Health care expenses9

Aging Population9

Inflation within healthcare10

Efficiency within Health Care Centre10

Methodology11

Data analysis12

Main Cost Drivers on Health Care Spending12

Assessment of the Challenges12

Use of the technology, the role of the inflation and the prevention of the expenditures13

Policy Implications of an Aging Population14

Public Pensions15

Policy Implications of an Aging Population17

Healthcare17

Care giving that is given to the patients19

Aging and Sustainability19

Restructuring the structure care for the seniors20

Results of the data analysis21

Health of the Baby Boomer Generation21

Public Spending by the Particular Age Group21

Conclusion22

References25

Appendices28

How Will an Aging Population Affect Canada's Ability to Invest for the Future

Introduction

On the basis of past events, Canada can be dealing with freakish Demographic market modification, in particular in the region of ageing of the population. In accordance with studies about the predicted adjustments throughout Canada's people, how many citizens aged 65 or higher may twice yearly in two decades. This can be visualized from the figure below:

Figure 1 - Distribution of Population by Age Group, 1971-2061Source: André Léonard, Canada's Aging Population and Public Policy

As a result, Governments by any means may face significant difficulties subsequently. In reality, the socio economical impression of an ageing people may participate in a serious role in the choices authorities is likely to make in the returning many years (Zweifel et al., 1999). The reason behind the enhancement inside the amount connected with seniors inside the inhabitants is twofold. Primarily, there is a drop inside the birthrate of the population: the many years succeeding the baby boomers. The number of Canadian citizens born between the time span of 1946 to 1965, the vast majority is going to be 65 by the year 2020 are very smaller. Subsequent, life expectancy climbed through 68 to help 80 years concerning 1961 in addition to 2006 (Caley & Sidhu, 2011).

Research Question

What are the affects and implications of the aging population in to the overall healthcare expenditures and costs in Canada?

How will an aging population affect Canada's ability to invest for the future through the health care system?

How will an aging population affect Canada's health care expenditures on working-age and younger population?

Literature Review

On the upcoming future of Canada, the raising portion connected with seniors will have an exceptional influence on Canada's Economic progress along with, thus, in fed situation of Finance (Reinhardt, 2003). Or can the company field become spared: many of the issues it is going to encounter consist of ageing employees, an approaching labor scarcity along with enhanced levels of competition pertaining to knowledgeable staff. The little one boomers' monetary readiness pertaining to retirement is also being wondered. Though this kind of age group appears normally well prepared in Economic terms, middle- along with high-income earners are experiencing much more issues achieving an acceptable cash flow substitution rate of 70%. This particular rate represents the rate concerning workers' cash flow right after retirement along with their own cash flow right at the end ...