Americans Worry Medicare Can’t Handle the Rising Elderly Population

A recent Harris Poll reveals Americans are worried that Medicare and Social Security will be unable to accommodate the increasing elderly population as medical advancements extend life expectancies. The survey queried 2,232 U.S. adults online in January of this year, finding that 51% of adults think the U.S. health care system won’t be equipped to handle the sizable elderly population which is likely to include significant numbers of patients with chronic health conditions. Only 24% of those surveyed have faith the health care system can handle the burden. The same percentage indicated they weren’t sure. A 2015 Kaiser Family Foundation report predicts, based on U.S. Census data, that the population aged 65 and older will double between 2010 and 2050 while the number of those 80 or older will triple and the amount of people reaching 90 or above will quadruple. That report concluded that according to 2011 data, beneficiaries 80 or older account for 33% of Medicare spending, while those aged 65-69 generate only 15% of Medicare spending. The report notes that beneficiaries aged 80 or older are likely to have one or more chronic conditions giving rise to higher Medicare expenditures. The Harris Poll survey also indicated that…