74% of current beneficiaries worry about the sustainability of the Medicare program
97% feel they are entitled to their benefits, but 84% say significant changes will be needed to secure Medicare for future generations
Only 12% are willing to see their benefits or costs change today to ensure the program for future generations
SANTA CLARA, Calif. , Aug. 7, 2023 /PRNewswire/ -- The long-term sustainability of the Medicare program is a big concern for many of today's beneficiaries but there are limits to what they are willing to accept to maintain it, according to new original research published today by eHealth, Inc. (Nasdaq: EHTH) (eHealth.com), a leading online private health insurance marketplace.
Earlier this year, Medicare's Board of Trustees estimated that the fund backing Medicare Part A will become insolvent and unable to pay full benefits by 2031. eHealth's new survey of more than 3,500 current Medicare beneficiaries found that 74% worry about the long-term viability of Medicare. Nearly all (97%) feel they are entitled to the benefits they receive today, but 84% say significant changes must be made if the program is to survive for future generations. Only 12% would accept increases in their current costs or reductions in their benefits if such changes ensured the sustainability of Medicare.
"After paying into Medicare for many years, current beneficiaries justifiably feel they are entitled to the benefits they've earned," said eHealth CEO Fran Soistman. "Our new research shows that they are aware of, and care about, the long-term financial challenge of funding Medicare. However, it also highlights the challenges for elected leaders who want to do something about it. My hope is that our research published today helps bring valuable insights to the conversation."
Additional highlights from the report:
- 76% of Democrat voters and 74% of Republican voters worry about the sustainability of the Medicare program.
- 62% of Republican voters give the government a D or F grade for working to secure the future of Medicare, but 73% of Democrat voters give the government an A, B, or C grade.
- 25% of those earning under $25,000 per year are "very worried" about the future sustainability of Medicare, compared to only 12% of those with an annual income over $100,000.
Read the full report.
eHealth's report is based on a voluntary survey of 3,582 beneficiaries who enrolled in Medicare plans through eHealth, with coverage in effect at the time of the survey, which was conducted in June of 2023. Additional methodology information is provided at the end of the report.
For over 25 years, eHealth, Inc. (Nasdaq: EHTH) has expertly guided American consumers with innovative technology and licensed advisor support to help them find health insurance and related options. Through its proprietary health insurance marketplace at eHealth.com, eHealth has connected more than eight million members with quality, affordable coverage. eHealth offers Medicare Advantage, Medicare Supplement, Medicare Part D, individual, family, small business, and ancillary plans from approximately 200 health insurance companies nationwide. For more information about eHealth, please visit us at eHealth.com, or follow us on LinkedIn, Facebook, Instagram, and Twitter.
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SOURCE eHealth, Inc.