Practically 70 percent of older Individuals endorse the concept of particular person health savings accounts to help cover medical bills in their later years, a new survey finds.
The accounts would involve setting aside 1 p.c of earnings to handle expenses not lined by Medicare, the federal insurance program for individuals aged sixty five or older.
The survey also discovered that a majority of these interviewed expressed assist for having the ability to purchase into Medicare earlier than they flip 65.
It Won’t Be Simple With out Health Insurance coverage
Many older Individuals are going through a bleak picture as they enter retirement. Not solely do they typically wrestle with chronic well being problems, but their wages are stagnant, well being costs are rising and retiree health advantages are declining.
Fifty-three p.c of respondents who labored or had a working partner said they might not have job-based mostly health advantages when they retired. In line with researchers, 12 million older adults are at the moment uninsured or have had histories of unstable coverage.
It Takes Money To Have Well being Insurance coverage
Twenty-4 percent of adults aged 50 to 65 stated they have not crammed a prescription, seen a physician or specialist, or gotten a medical check or observe-up treatment due to the costs involved. multiple-third mentioned they had an issue paying medical bills up to now year, or have been nonetheless paying off medical debt from the final three years.
All of that is taking a toll on confidence. Only 15 percent of respondents aged 50 to 64 and 22 percent of those aged 65 to 70 felt they’d have enough revenue and savings for retirement. Nearly -thirds apprehensive they would not be able to afford medical care and medical insurance in their later years.
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