The resulting sharp rise in the percentage of the elderly population from this generation will make it much more expensive to support programs such as Medicare and Social Security, which are designed to partially shield the elderly from the worst financial effects of old age (deteriorating health and loss of income). As a result, some changes in these programs are likely to occur that could result in an increase in the benefit-eligibility age, higher taxes, or reductions in benefits for all or certain categories of retirees (such as higher-income individuals).
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