Publicité par Adpathway

Most Medicare beneficiaries concerned about healthcare cost inflation, survey finds

1 week ago 10
  Ads by Adpathway

private equity, investments,

About 95% of Medicare beneficiaries are anxious about inflation’s impact on healthcare costs, with 45% saying costs have already increased because of inflation, a recent survey by eHealth found.

eHealth, based in Santa Clara, California, is a private online marketplace for health insurance. The survey collected responses online throughout July with 2,519 participants. The respondents are Medicare beneficiaries who purchased a Medicare Advantage, Medicare Supplement or Medicare Part D plan from eHealth. Nine out of 10 of participants are living on a fixed income, according to the report.

Of those who said they worry about inflation’s impact on healthcare costs, 49% said they are “very worried,” 34% said they are “somewhat worried,” 12% said they are “a little worried” and 4% said they aren’t worried at all.

The areas Medicare beneficiaries are most concerned about are increased prescription costs and Part B Medicare premiums, both at 65%. After that, 60% are concerned about higher copays and deductibles and 57% are worried about higher premiums for other forms of Medicare coverage, the report found.

About half, or 49%, of Medicare beneficiaries are vulnerable to premium increases of 10% or less. The survey found 30% of respondents already can’t afford their Medicare premiums, while 14% said an increase of 5% or less would make their premiums unaffordable. Another 15% said an increase of 5% to 10% would make their premiums unaffordable.

For drug costs, 52% said a 10% increase would be unaffordable, with 26% saying prescription costs are already unaffordable. Another 16% said an increase of 5% or less would make their drug costs unaffordable, and 16% said an increase of 5% to 10% would make them unaffordable.

Most of the respondents also said they want the government to step in with these drug costs, with 86% saying Medicare should directly negotiate with drug companies to lower costs. Another 88% said they would feel less concerned about healthcare cost inflation if the government took action.

The government just might do that.

Currently, a bill is under consideration in the Senate that would reduce the federal deficit by $288 billion over 10 years, and decrease out-of-pocket spending by Medicare beneficiaries, according to Kaiser Family Foundation. It would also limit increases in drug prices for Medicare and private insurance.

“Seniors on a fixed income are particularly vulnerable to inflation’s impact on health care costs,” eHealth CEO Fran Soistman said in a news release. “Our survey shows the consequences of inflation are immediate and that senior citizens are concerned about their ability to afford monthly premiums and other health care costs.” 

Photo: Ta Nu, Getty Images

Hear the latest industry news first. Sign up for our daily newsletter.

We will never sell or share your information without your consent. See our privacy policy.

Read Entire Article


 Publicité par Adpathway