Is Medicare keeping pace with our aging population? Experts say ‘we need to double down and go faster’

Fortune March 26, 2024
Liz Seegert

Americans are living longer than they did in 1965, when Medicare was established. Back then, average U.S. life expectancy was about 70; today it’s about 77 and a half—down slightly from a pre-pandemic high of nearly 79. Women celebrating their 65^th birthdays today can expect to live to about age 86, and men to 84, according to the Social Security Administration’s life expectancy calculator. That also means needing Medicare benefits for another 20 years.

We can thank reduced infant mortality, improved public health, and better chronic disease management for our increased longevity. But Medicare was never designed to help us live this long, and services have sometimes been slow to adjust to the needs of the aging population, say some...

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