Final answer:
Older adults may require compensation during financial challenges, health care access difficulties, or when facing ageism. Economic downturns and fixed incomes post-retirement increase the reliance on programs like Social Security, Medicare, and pension insurance to sustain their livelihood.
Step-by-step explanation:
Older adults may need to use compensation in various aspects of their lives due to age-related changes. Examples of when compensation is necessary include when they are grappling with financial challenges due to retirement or a fixed income, facing difficulties in accessing healthcare or required vaccinations such as during the COVID-19 pandemic, or encountering ageism in the form of stereotypes or reduced access to resources. Aspects like pension insurance are critical to ensure that elders receive some financial security, especially when potential bankruptcy of employers threatens their promised pensions.
Amidst economic pressures, older individuals might also face scrutiny over the perceived financial burden they place on social systems, with programs like Social Security and Medicare consuming a significant portion of tax dollars. The dependency on these programs often increases due to income loss during financial downturns, as experienced in the recession of 2007-2009 when the value of retirement accounts plummeted. Consequently, seniors might depend more heavily on government assistance or other forms of compensation to maintain a dignified standard of living.