The potential for increased life expectancy in the United States by an average of 12 years by 2040, as a report from Deloitte suggests, is not only exciting but a call to action for employers and a testament to the power of technology and innovation. This comes at a time when the US has seen a stagnating growth rate in life expectancy and even a decline in 2021, largely due to the COVID-19 pandemic and drug overdose deaths. The report's emphasis on the role of employers in driving this change is a bold assertion that businesses are health organizations, regardless of their industry, and have a crucial role to play in the health of their employees.
As we navigate through an era of digital transformation, we're seeing technology's profound impact on our lives. While it's true that technology has made us more sedentary, it's also true that it holds the keys to nudging us into activity and improving our health outcomes. From fitness trackers to digital wellness platforms, technology is emerging as a powerful tool for health improvement. The Deloitte report encourages employers to take advantage of these tools and adopt a range of health-promoting measures, such as using digital tools to provide access to quality health care services, promoting physical activity, and incentivizing the use of health wearables.
This shift towards health promotion in the workplace could be a significant game-changer. With the integration of health technologies into our everyday devices, employers have an opportunity to nudge their employees towards healthier behaviors. Not only can this lead to improved health outcomes, but it also makes economic sense. Healthier employees are generally more productive, resulting in better overall business performance. Furthermore, if all Americans could live to 90, with 95% of those years in good health, we could spend less on health care in the long run1.
However, the responsibility for driving this change doesn't rest with employers alone. As the report notes, "Employers can be the catalyst for change, but they can’t do it alone." The public and private sectors, life sciences and health care industries, public health entities, and individuals all need to come together to realize this vision of longer, healthier lives.
It's also worth highlighting that these health advancements are not just beneficial for individuals. They also have implications for retirement planning and estate planning. The prospect of living longer, healthier lives will require us to rethink our approach to retirement. Individuals will need to plan for a longer retirement period, potentially requiring more savings to maintain their standard of living. Similarly, estate planning considerations may need to be revised to account for the possibility of longer life spans.
Another interesting aspect of the report is the potential for historically marginalized groups to gain even more in terms of health span, with Black and American Indian/Alaskan native people standing to gain 25 and 28 years of health span, respectively1. This is a hopeful sign, showing that with concerted efforts, we can reduce health disparities and improve health equity in the United States.
In conclusion, the potential increase in life expectancy by 2040 is an exciting prospect. But it requires collective action. Employers must step up and leverage the power of technology to promote health in the workplace. At the same time, we as individuals must embrace these advancements and make choices that promote our health. Only then can we make these exciting projections a reality.
