Introduction
Colorado is one of the fastest aging states in the country, with the number of those 65 and older projected to grow by over 45 percent through 2050. This is good news. With age comes an accumulation of skills, experience, and wisdom that we’re able to share with our communities.
Our collective longevity is also reshaping our state. Importantly, these changes will be felt by everyone, regardless of age. Below, we explore a few areas where the impacts are particularly notable.
Impacts On Our Workforce
Older Coloradans are one of the most rapidly expanding segments of our state’s workforce. Valuable members of our economy, older workers contribute the skills and knowledge they’ve gained over a lifetime to the state’s labor market. Moreover, intergenerational workforces are shown to be more innovative and productive. To leverage the benefits of an older workforce, the state can create tailored upskilling and reskilling opportunities, while also prioritizing ending age discrimination.
Additionally, an older population is shaping which jobs are most needed in Colorado. As we age, most of us, approximately 70 percent, will need some type of long-term support. Much of this care will be provided by direct care workers, a group of workers which includes nursing assistants, homemakers, and personal care aides. Though vital to helping us age in our communities of choice, there is a shortage of direct care workers because of factors like low wages and poor benefits.
Impacts on Medicaid and the State Budget
Though most of us will need long-term care, it’s often unaffordable. Long-term services and supports often aren’t covered by private insurance and are too expensive for many to pay out of pocket. As a result, some older Coloradans are forced to spend down their resources in order to qualify for, and receive services through, Medicaid.
Combined, the high cost of long-term care and the growing number of older adults using these services, are driving up state Medicaid costs. Because our state budget is constrained by TABOR, high Medicaid expenses limit policymakers’ ability to invest in other state priorities.
Impacts on Caregiving
Due in part to the high cost of long-term care, many of us turn to family and friends for help as we age. Approximately 20 percent of Coloradans are providing some type of unpaid care to an older loved one. Many of these caregivers are also older adults themselves. While unpaid caregivers often find this work rewarding and meaningful, it can also be mentally, physically, and financially taxing.
Impacts on Housing & the Creation of Age-Friendly Communities
Adequate housing remains a top challenge for Coloradans, including older adults. In addition to affordable housing, many older adults are looking for homes that are accessible.This, for example, includes housing that can accommodate wheelchairs or walkers.
Many older Coloradans also benefit from age-friendly communities. These communities prioritize accessibility for people of all ages, including older adults. Age-friendly communities often pay special attention to the creation of accessible transportation, health, civic participation, and park systems.
Equity and Data Gaps
As Colorado continues to adopt policies that reflect the needs and contributions of older adults, we must also be sure to address equity gaps. Though we have made some progress over the past several years in closing disparities, specifically around race and ethnicity, Colorado must do more to ensure that everyone can age with dignity.
The above-mentioned disparities are driven, in part, by data gaps. For many groups — including those from diverse communities and rural areas — there simply isn’t enough data to understand their unique aging experiences and the resources needed to best support them and their families.
Older Coloradans are a tremendous boon to our state. However, in order to fully recognize the benefits, we must intentionally adopt age-friendly policies. In doing so, we can create a state where every Coloradan can age in a way they find meaningful.
