Survey: Many Seniors Struggle to Afford the Cost of Care, Regardless of Coverage
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Oct 05, 2023
A significant number of seniors face financial burdens that impact their health, regardless of what type of Medicare coverage they have, according to the Commonwealth Fund’s 2022 Biennial Health Insurance Survey, published Sept. 19. Survey results from about 1,600 Medicare beneficiaries ages 65 and older showed that more than one-third lived at below 200% of the federal poverty level (FPL), an income threshold of $27,180 for 2022. And nearly 1 in 5 seniors reported being underinsured (defined as having high out-of-pocket costs or deductibles relative to one’s income), with low-income seniors reporting the highest underinsured rates. Read more© 2024 MMIT
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