from its value in 1995 (approximately nine thousand two hundred dollars) to about twenty-five thousand dollars by the year 2020.
Sunday, May 30, 2010
In the years between 1995 and 2020 it is in fact also expected that the share of health care expenses in relation to gross domestic product will double to an expected ten percent
In fact, while judging elderly health care costs it is also pertinent to note that present day costs of providing medical care to the elderly have been rising at an alarming four percent (approximately) per year over what it was in the previous decade. Furthermore, experts estimate that elderly health care costs in terms of spending on health care will rise
These alarming figures are enough to set alarm bells ringing and furthermore there is every reason to expect that resources of seniors as well as those of the government will be strained to breaking point. This is certainly not good news for seniors who usually foot about a third of their medical costs on their own. However, provided certain helpful measures are taken, there is reason to believe that it is still possible to reduce elderly health care cost.
Elderly mental health care is another area that needs to be addressed because it is estimated that about twenty percent of adult Americans have some form of mental illness or the other that needs to be treated. Common among these mental illnesses among senior Americans are delirium, dementia as well as schizophrenia, psychosis, as well as depression.