Minnesota's Aging Population

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Advancing Economic Equity: Demographic and Economic Trends and Projections

@mnhealth #2016MNCHCWELCOME!From Principle to Practice:Walk the Talk for Health Equity

2016

Craig HelmstetterWilder ResearchCommunity Health Conference, September 30, 2016Minnesotas Aging Population

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The collaborative of foundations behind Minnesota CompassMardag FoundationThe McKnight FoundationThe Minneapolis FoundationNorthwest Minnesota Initiative FoundationThe Saint Paul FoundationWells Fargo Foundation MinnesotaAmherst H. Wilder Foundation

3M FoundationBlue Cross and Blue Shield of Minnesota FoundationBoston ScientificOtto Bremer TrustBush FoundationGreater Twin Cities United WayInitiative FoundationThe Jay & Rose Phillips Family Foundation of Minnesota

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MNCompass.org

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Which is the best metaphor for Aging in MN?

Which is the best metaphor for Aging in MN?

#1#2#3

270,000730,000806,0001,320,000

19502010201520357

Age 65+93% growth 2010-2035

Age 85+125% growth 2020-2045

The population of what age group is growing most rapidly in Minnesota?

Children (age 0-17)Working age adults (18-64)Older Adults (65+)None. All groups are shrinking.QUIZ QUESTION #1

The population of what age group is growing most rapidly in Minnesota?

Children (age 0-17)Working age adults (18-64)Older Adults (65+)None. All groups are shrinking.QUIZ QUESTION #1

The population of what age group is projected to barely grow in the next quarter century?

Children (age 0-17)Working age adults (18-64)Older Adults (65+)None. All groups will grow rapidly.QUIZ QUESTION #2

The population of what age group is projected to barely grow in the next quarter century?

Children (age 0-17)Working age adults (18-64)Older Adults (65+)None. All groups will grow rapidly.QUIZ QUESTION #2

Minnesotas population by ageGrowthToday (2015)5.5 Million1.3 Million3.4 Million806,000

http://www.mncompass.org/demographics/age#1-5228-g

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Minnesotas population2020Older Adults outnumber school aged kids2050Older Adults outnumberall children

Minnesotas population

Minnesotas population by generation

What generation are you in?

(Note: it is OK to lie in this case)

Used 2014 Census Bureau pop estimates from: http://www.mncompass.org/demographics/age#7-5451-g

Generational definitions taken from Pew (somewhat narrower definition of Millennial than used in 2014 annual meeting): http://www.pewresearch.org/fact-tank/2015/01/16/this-year-millennials-will-overtake-baby-boomers/ 17

Minnesotas population by generation

Used 2014 Census Bureau pop estimates from: http://www.mncompass.org/demographics/age#7-5451-g

Generational definitions taken from Pew (somewhat narrower definition of Millennial than used in 2014 annual meeting): http://www.pewresearch.org/fact-tank/2015/01/16/this-year-millennials-will-overtake-baby-boomers/ 18

Workforce shortage!

Loss of workplace leadership & expertise!The Silver Tsunami =

The relationship between Health and Age is

LinearCurvilinearNeitherQUIZ QUESTION #3

The relationship between Health and Age is

LinearCurvilinearNeitherHonestly Im not completely sure, but for many Health gets worse with AgeQUIZ QUESTION #3

20%1%

http://www.mncompass.org/health/diabetes#1-4113-g22

65%1%

Disability by type by age, Minnesota 2014

More health difficulties for individuals!

More pressure on care givers!

More pressure on health care systems!The Silver Tsunami =

Are you ready for some beautiful butterflies?

Yes Yes please YES!!!QUIZ QUESTION #4

Some good news about aging in Minnesota

Among lowest disability rates nation-wide!

The prevalence of some health conditions may improve with age

Our nation has figured out how to provide at least some level of health insurance to older adults, even prior to Affordable Care Act

Age 65+Under 1818-64

Older adults will help address Minnesotas projected workforce shortage

22%27%Age 65-74Age 75+Age 55-64Age 25-44

Among the highest levels of civic engagement!

What sort of asset will older adult volunteers be for Minnesota by 2040?

Each person represents 10,000 older adult volunteers

In fact, today there are nearly 287,000 volunteers age 65+ in Minnesota. Assuming on average, each person volunteers 80 hours each year, at an average rate of $20/per hour of labor, that equates to $459 million of donated labor.By 2040, that number is expected to climb to 551,000 volunteers, equating to a stunning $882 million asset for our state!

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Each person represents 10,000 older adult volunteers

In fact, today there are nearly 287,000 volunteers age 65+ in Minnesota. Assuming on average, each person volunteers 80 hours each year, at an average rate of $20/per hour of labor, that equates to $459 million of donated labor.By 2040, that number is expected to climb to 551,000 volunteers, equating to a stunning $882 million asset for our state!

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Aging is impacting all areas of our state

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Where can we learn how to best address an aging population?

What have we learned?

Stay in touch

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