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KMID : 1170320070130010095
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Korean Journal of Health Economics and Policy
2007 Volume.13 No. 1 p.95 ~ p.116
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Aging and Health Care Expenditure
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Jeong Hyoung-Sun
Song Yang-Min
Lee Kyu-Sik
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Abstract
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The elderly population in most OECD countries is rapidly growing because of declining death rates and increasing life expectancy. Population aging has caused concerns about the burden of health care expenditures. Future health care expenditures are, particularly, expected to soar as the baby boom generation is going to retire in the near future. There
has been a wide belief that there is a mechanistic relationship between the population aging and the rapid growth of national health spending. However, many domestic studies on both healthy aging and death-related costs have shown some reservations to such a belief. This study based on cross-country comparison shows the possibility of a decline of
disability in developed countries, compared with the increased life expectancy(healthy ageing hypothesis). This study also showed that the relationship between age and health expenditure was weak and possibly inverse once proximity to death was controlled for. Death ratio was more important as a determinant of health costs than age itself(death-related cost hypothesis). The results of this study cast two suggestions among others. Firstly, simple projections based on age-specific health expenditure will be misleading. Healthy aging and death-related costs should be taken into account in
projections of future health care costs to avoid overestimation. The longer life expectancy of baby-boom generation may not bring as great an increased burden for the health care costs as many fear. Secondly, if we can postpone the time of death to higher ages through healthy aging, we can put a brake on the health care costs for the elderly. Health promotion and investment for health, therefore, would contribute not only to the health of population but also to mitigation of the cost increase for health care.
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KEYWORD
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healthy aging, death-related costs, health care expenditure per capita, health-adjusted Life expectancy
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