November 17, 2020 PR Newswire
The concept of Medicare
at 60 is not new, but 77% of respondents in a recent survey were unfamiliar
with proposals to lower the eligibility age. Still, when asked for their
perspective on lowering the Medicare eligibility age, the majority of
non-Medicare respondents and Medicare beneficiaries were in favor.
GoHealth recently
commissioned a survey of 3,229 people through a third party from October 9 to
October 16, 2020. The respondent groups included employed, unemployed, retired
and Medicare beneficiaries. The report, "Lowering the Medicare Eligibility
Age: Opinion & Awareness Among Older Adults," examines the
understanding and opinion of the proposals to allow Americans, if they choose,
to enroll in Medicare before 65.
"I think most
stakeholders across the entire healthcare ecosystem want to make healthcare as
efficient and affordable as it can be for older adults that rely on their
providers and health insurance to extend their golden years," said Clint
Jones, GoHealth co-founder & CEO. "We focus on educating aging
Medicare beneficiaries to utilize all their benefits and resources available
with health insurance because longevity always starts with preventive care,
knowledge and the right support."
For those employed and
unemployed ages 55 to 64, most are worried about their ability to afford health
insurance before reaching the current Medicare eligibility age of 65.
Fifty-seven percent of the employed group is worried, and 62% of the unemployed
group feels the same.
"Health Insurance
Outlook" Key Findings
·
Thirty-three percent of those employed and unemployed and under
65 are planning to reduce preventive care appointments and/or everyday
household purchases like groceries to afford health insurance before they reach
65.
·
Fifty-seven percent of the non-working group under 65 (e.g.,
retired and unemployed) has experienced increased health insurance costs since
stopping work, including premiums, deductibles, out-of-pocket maximums, copays
and coinsurance amounts.
·
Thirty-eight percent of the non-working group gets health
insurance through either a former employer or a partner's employer, and 10%
currently do not have insurance. That includes a 17% uninsured rate among the
unemployed subset; 23% of the unemployed are on Medicaid.
"Modifying Medicare
Eligibility" Attitudes & Perceptions Key Findings
·
Of those that were aware of proposals to lower the eligibility
age, 64% of non-Medicare respondents and 49% of Medicare beneficiaries were in
favor.
·
Of those that were not aware of proposals to lower the
eligibility age, 70% of non-Medicare respondents and 58% of Medicare
beneficiaries were in favor, particularly if there's a plan to prevent cost
hikes or underfunding.
·
Those in favor of lowering the age most prefer 62 (33%) or 60
(34%), while fewer favor dropping the age to 55 (19%) or 50 (10%).
·
Lowering the eligibility age would even impact health and
well-being: 53% of those employed (and 44% of the non-working group) said they
could receive regular screenings for medical conditions for which they may be
at risk.
·
Forty-three percent of those employed said that lowering the age
would allow them to retire earlier.
·
Thirteen percent of Medicare beneficiaries would be willing to
pay more in premiums if it lowered the standard eligibility age.
To view the full report
and gain additional insights from, "Lowering the Medicare Eligibility Age:
Opinion & Awareness Among Older Adults," visit https://www.gohealth.com/report-older-americans-support-lowering-of-medicare-eligibility-age/.
About GoHealth:
As a
leading health insurance marketplace, GoHealth's mission is to improve access
to healthcare in America. Enrolling in a health insurance plan can be confusing
for customers, and the seemingly small differences between plans can lead to
significant out-of-pocket costs or lack of access to critical medicines and
even providers. GoHealth combines cutting-edge technology, data science and
deep industry expertise to match customers with the healthcare policy and carrier
that is best for them. Since its inception, GoHealth has enrolled millions of
people in Medicare and individual and family plans. For more information,
visit https://www.gohealth.com.
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