Wednesday, August 5, 2020

Here’s what Medicare beneficiaries worry about when it comes to costs


PUBLISHED TUE, AUG 4 20208:30 AM EDT Sarah O’Brien@SARAHTGOBRIEN
KEY POINTS
·        The majority of current and soon-to-be Medicare beneficiaries are concerned most about out-of-pocket costs and unexpected medical bills, a recent survey shows.
·        Medicare comes with a variety of charges, including premiums, deductibles and copays.
·        At last count, roughly 6 million recipients lacked coverage beyond basic Medicare, according to the Kaiser Family Foundation.
For some Medicare beneficiaries, the pandemic means worrying about more than just their increased health risk from Covid-19. It also raises the specter of large, unexpected medical expenses.
Medicare, the government health insurance program that you generally qualify for at age 65, comes with costs that can surprise beneficiaries. And as the pandemic continues rumbling through U.S. communities, the majority of current and soon-to-be beneficiaries worry most about out-of-pocket costs (66%) and unexpected medical bills (62%), according to a survey by Healthinsurance.com.
More than 1,000 Medicare-eligible individuals age 64 or older were recently polled to explore their views on a variety of topics related to Medicare and health care during the pandemic, which in the U.S. has led to 4.66 million cases and 154,860 deaths.
Some of the results in the survey over costs echo previous findings from the The Senior Citizens League, an advocacy group for older individuals.
“There are high out-of-pocket costs involved with Medicare,” said Mary Johnson,  a policy analyst for the group. “And they start cascading as you age, because you need additional services or you have new conditions diagnosed.
“And that often takes people by surprise.”
About 36% in the Healthcare.com survey have delayed seeing a doctor due to cost at some point — not necessarily amid the pandemic.

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