Economic Effect of the Aging U.s. Baby Boomer Cohort

This story is office of an occasional series on the important community benefits that come from responding to the 2020 Census.

Baby boomers take changed the face of the U.South. population for more than than 70 years and go on to do so as more enter their senior years, a demographic shift oft referred to as a "gray tsunami."

The 2020 Census will provide the near up-to-date count of the baby boom generation, now estimated at about 73 million.

"Data from the 2020 Census will testify the impact of the baby boomers on America's population age structure."

— Wan He, head of Aging Inquiry Programs for the Population Division of the U.S. Census Bureau

Born after World War 2, from 1946 to 1964, the oldest boomers will turn 74 next year. When the last census was taken in 2010, the oldest had not even turned 65.

Since then, nearly x,000 a day take crossed that age threshold and by 2030, all boomers will be at least age 65.

"Data from the 2020 Demography will show the affect of the infant boomers on America'due south population historic period construction," said Wan He, head of Aging Research Programs for the Population Sectionalization of the U.South. Census Bureau.

Why Knowing Where Boomers Are Matters

Knowing well-nigh the number of people age 65 and older is important for tribal, local, state and federal lawmakers. They will use 2020 Census statistics to help decide how to spend billions of dollars annually in federal funds on disquisitional public services for the next 10 years.

Everyone uses roads, hospitals and emergency services simply some state and federal programs target specifically older populations — such as money for senior citizen centers, job-training programs, and Medicare Part B health insurance.

"The census is really important to us in the aging community," said John Haaga, of the National Institute on Aging in Washington, D.C. "It'southward our only way to effigy out how things are different across the country, what areas are crumbling faster, where elderly disabled people live, or where older people are concentrated, like Appalachia or West Virginia, because immature people are leaving for the cities." Older people are remaining behind at that place.

Other states, such as Florida, have large older populations because people are moving there to retire, according to Haaga.

By using Demography Bureau statistics and its geographic information organisation, analysts and community planners can get a refined picture of where older Americans live and how shut they are to the services they need. That helps lawmakers or business organisation people determine where to open health clinics or senior citizen centers, among other services.

"Yous tin commencement to look at specifics like how many older people are living alone who are more than 10 miles from an adult twenty-four hours care heart." Haaga said. "Yous can answer questions of access and how to amend it."

Enter the Baby Boomers

At an estimated 73 million, this generation is the 2d-largest age group after their children, the millennials, born from 1982 to 2000.

"As boomers age through their 60s, 70s, 80s and increasingly beyond, the 'big bulge' of the boomer generation will contribute to the overall aging of the U.S. population in coming decades," said Stella Ogunwole, a demographic statistician with the Census Bureau.

"The older population is becoming even more significant," she said.

The number of people age 65 and older in the United States has grown chop-chop over almost of the 20th century, from 3.1 million in 1900 to 35 million in 2000.

In 2018, at that place were 52 1000000 people age 65 and older, according to the Demography Bureau's Vintage Population Estimates. Their share of the population grew every bit well, from 12.four% in 2000 to 16.0% in 2018.

But aging boomers are not the only reason the nation's population is getting older overall. Longer lives — in part due to amend health care — and record low nascence rates amidst immature women are besides major factors, co-ordinate to Haaga.

The total fertility rate of U.S. women is now 1.vii children per woman, below the 2.i children needed to supervene upon the population.

Life expectancy at age 65 went from eleven.ix years (1900-1902) to xix.1 years in 2010, co-ordinate to An Crumbling World, a Census Bureau written report co-authored by Wan He.

Older adults are projected to outnumber children under age 18 for the first time in U.S. history past 2034, according to Census Bureau projections.

"The mismatch between old and young will have implications across the coming years," said Dr. Grace Whiting, president and CEO of the National Alliance of Caregivers.

"We aren't having enough children to take care of us in our erstwhile age," she said. "Look at my family: my in-law was i of six children, my husband and I were one of two, and nosotros don't take kids. Extrapolate that out, and that's what's happening nationwide."

Whiting's concern points to the increasing need for caregiver and wellness services for people over historic period 65, many of whom apply services whose funding depends on decisions fabricated based on demography data.

Federal Programs Help People Over Age 65

Lawmakers and planners utilize census statistics to aid decide how to spend on programs that help improve the quality of life for all people age 65 and older.

Medicaid, the health insurance plan for low-income people including those age 65 and older, is the largest federal plan that uses demography statistics to determine funding. In 2015, Medicaid received $312 billion, according to a 2017 report from the Demography Bureau.

The Supplemental Nutrition Assistance Program (SNAP) spent $71 billion in 2015. SNAP is the second-largest program that uses demography statistics to allocate funds.

Third is Medicare Office B, at $70.3 billion, which is part of the Medicare health insurance program for all people over 65 years onetime, no affair their income.

These programs are just a few of the reasons why it is important for people historic period 65 and older to respond to the 2020 Census.

They can respond online, past phone or by post.

Programs that aid older people live better lives include:

Social Services Cake Grants

Adult day care, community center lunches, home-delivered meals, protection and remedy from abuse — both concrete and financial — are all funded by Social Services Block Grants.

The funding levels for these services are determined, in part, from statistics produced past the Census Bureau. The federal funding program for social services grants gives states coin to spend on a wide variety of programs.

In 2015, the program granted $1.6 billion, according to the Census Bureau, and x% of the grants were aimed at the needs of vulnerable and elderly adults, according to the Social Services Cake Grant 2016 focus report. (The SSBG is role of the U.Due south. Section of Health and Human Services.)

In 2016, 42 states spent $284 million to provide assist for about 950,000 people age 65 and older, including intervention services, emergency medical services, emergency shelters, and counseling.

One of the largest programs nether SSBG that is aimed at the elderly is for people suffering from corruption or neglect, including maltreatment, lack of adequate nutrient or shelter, or fiscal corruption. Sadly, one in x older adults experience some form of abuse, co-ordinate to the Census Bureau.

Farmers' Market Program

Getting healthy food is a key business for low-income older people.

The Senior Farmers' Market Diet Program (SFMNP) provides low-income seniors with coupons that they can exchange for eligible foods (fruits, vegetables, beloved and fresh-cutting herbs) at farmers' markets, roadside stands, and customs supported agriculture (CSA) programs.

The SFMNP is administered past state agencies such as Departments of Agriculture or Crumbling, and federally recognized tribal governments. Not all states operate the SFMNP statewide. In 2016, an estimated 816,000 seniors used the plan.

Chore Training

The Senior Community Service Employment Program (SCSEP) is a piece of work-based job-preparation programme for older individuals. Two-thirds of participants are women and almost one-half are from a racial or indigenous minority, according to the SCSEP. Veterans and qualified spouses are given priority for enrollment.

Participants get piece of work experience in nonprofit and public agencies, including schools, hospitals, solar day care centers and senior centers.

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Source: https://www.census.gov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-older.html

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