Saturday, April 2, 2016
www.gjsentinel.com/news/articles/aging-population-will-require-problemsolving-group
Colorado’s rapidly aging population presents unique challenges to aging adults, their families and their communities. Some of those challenges are financial, while others are a matter of resources or education, and a state group is examining ways to prepare for the needs of an increasingly older population.
Jim Riesberg of Greeley, the chairman of the Strategic Action Plan on Aging, told Club 20 members on Saturday that while the aging population shouldn’t let itself be defined by getting older, it also shouldn’t deny there are issues that need addressing.
The group, created last year by the Legislature, is charged with the task of coming up with a plan to prepare the state for the wide-ranging effects of this demographic shift. The plan, which will be delivered by November 2016, seeks to examine potential issues with mobility, housing, workforce development, health and wellness, family economic security, outreach and education, public finance, and community services as well as long-term care.
Some ideas include ways to keep people employable as they age, offering opportunities for re-training or shorter hours or workdays that better fit an older worker’s needs but keeping them in the workforce. Other ideas include helping folks save money to finance retirement and long-term care needs in the future, instead of relying on Social Security, as well as keeping the aging population healthy and free of chronic disease.
The life expectancy in Colorado is 80.4 years, on average, Riesberg said, and that means many individuals will spend as much time in retirement as they did in the workforce. This has financial implications for those individuals as well as taxpayers, since 85 percent of all nursing home care costs across the country are funded by Medicaid, Riesberg said. The group is exploring more sustainable ways to plan and pay for that care.
The shift in demographics will also be an adjustment for society, which will be faced with providing for the needs of an elderly population that has left the workforce. Predictions of shortages in health care providers and care facilities are a concern, especially as baby boomers in that industry retire.
Communities will also face the issue of collecting less tax revenue, because a growing senior population spends its money differently than other age groups, said Dave Norman, the director of the Area Agency on Aging for Northwest Colorado. Financial forecasts predict a decrease in sales-tax revenue for communities, because buying habits change and older folks tend to purchase services more than they buy goods.
Riesberg said the group is looking for input from residents who have ideas on how communities can support the aging population, as well as ideas on how to meet those needs. The group’s meetings and information about its work are posted at its website, colorado.gov/agingstrategy.