Who will and How to fund care and health of senior citizens?As the Indian population is growing, the life expectancy improving, India will have an increasing percentage of senior citizens or elderly people.
Cost of living, transport have increased, this coupled with the lower purchasing power of the rupee and the reducing interest rates, elderly people find themselves up against difficulties. The cost of medicines, hospitalization and medical care of elderly is beyond the reach of the common man.
At the family level, discussions of varying nature happen among children about how and who will take care of the elderly parents. Some may find this a little insensitive, but it is a daily issue when you read the papers or watch the news channels. Not all will be wealthy or have retirement savings or health plans like CGHS etc that are a lifesaver for these vulnerable people.
So, it is a real challenge at the family level how to fund the care and health expense of the elderly who instead of enjoying their remaining years, often have to be at the center of embarrassing discussions about the cost of looking after them.