A majority of present Medicare beneficiaries, or 74%, are anxious in regards to the Medicare program’s long-term sustainability, a brand new survey reveals.
The survey was printed by eHealth, an internet market for medical insurance. It was performed in June and included responses from 3,582 Medicare beneficiaries. The report comes after the Medicare Board of Trustees predicted that funding for Medicare Half A will be unable to cowl advantages by 2031.
About 20% of Medicare beneficiaries are “very anxious” in regards to the long-term sustainability of Medicare, 54% are “considerably anxious” and 25% are “under no circumstances anxious,” in accordance with eHealth. This concern exists no matter political beliefs: About 74% of Republicans are anxious and 76% of Democrats are anxious. Nonetheless, there’s extra of a distinction based mostly on earnings: 25% of these with an annual earnings of lower than $25,000 say they’re anxious, versus 12% of these with an earnings of greater than $100,000.
When requested in the event that they’re anxious about Medicare prices growing or advantages being diminished, 35% stated they’re very anxious, 50% stated they’re considerably anxious and 15% stated they’re not anxious. About 46% of these with annual incomes beneath $25,000 are very anxious, versus 18% of these with incomes above $100,000.
Nearly all, or 97%, of respondents stated they really feel “entitled” to have Medicare advantages after paying into this system. Nonetheless, 84% stated that adjustments will probably be wanted to guarantee that Medicare is on the market sooner or later.
But when sacrifices needed to be made so as to proceed the Medicare program, many wouldn’t be keen to simply accept them. Practically 60% of respondents stated they wouldn’t settle for elevated prices or adjustments to advantages.
When requested what ought to be completed to avoid wasting the Medicare program, 47% stated that payroll contributions ought to enhance, 21% stated the age for Medicare eligibility ought to be raised, 7% stated premiums ought to enhance, 4% stated out-of-pocket prices ought to enhance and three% stated advantages ought to be diminished. One other 40% stated that none of those choices are acceptable. Respondents might choose a number of choices.
As well as, many really feel the federal government ought to be doing a greater job in terms of persevering with the Medicare program. About 5% would give the federal government an A letter grade for what it’s doing to safe the way forward for Medicare, whereas 15% would give it a B, 36% would give it a C, 23% would give it a D and 21% would give it an F. Democrat voters had been extra possible to provide the next letter grade than Republican voters, nonetheless.
“After paying into Medicare for a few years, present beneficiaries justifiably really feel they’re entitled to the advantages they’ve earned,” stated eHealth CEO Fran Soistman in a information launch. “Our new analysis reveals that they’re conscious of, and care about, the long-term monetary problem of funding Medicare. Nonetheless, it additionally highlights the challenges for elected leaders who wish to do one thing about it.”
Photograph: designer491, Getty Pictures
