eHealth Survey Finds 95% of Medicare Beneficiaries Worry About Impact of Inflation on Health Care Costs
45% say health care costs have already increased due to inflation
86% believe Medicare should negotiate with drug companies to reduce costs
The survey, conducted before news of a possible compromise
"Seniors on a fixed income are particularly vulnerable to inflation's impact on health care costs," says eHealth CEO
Insights from eHealth's report:
- Drug costs and Part B premiums top the list of concerns: When it comes to health care cost inflation, the top two worries of Medicare beneficiaries are increased prescription drug costs and increased Medicare Part B premiums, each cited by 65% of respondents.
- Seniors believe government involvement could help reduce costs: 88% say that reducing drug costs now would help lessen their worries about health care cost inflation. Slightly fewer, 86%, want more government involvement in reducing drug prices.
- Many are financially vulnerable to higher premiums and drug costs: About half (49%) of Medicare beneficiaries say an increase of 10% or less in their Medicare premiums would make their coverage unaffordable; a similar figure (52%) say an increase of 10% or less would make their prescription drug costs unaffordable.
Read the full report.
eHealth's report is based on a voluntary survey of Medicare beneficiaries who purchased Medicare health insurance plans through eHealth. The survey was conducted in July of 2022 and a total of 2,519 responses were collected.
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