Medicare Patients Anticipate Troubles Affording Healthcare in 2022

A new survey from MedicalCares.com shows that 60% of Medicare recipients predict they’ll have trouble paying for their healthcare in the upcoming year. This comes after a 14.5% hike in monthly premiums from 2021 to 2022, attributed to the pause on Medicare price increases due to the CARES act and coverage of certain drugs, such as the Alzheimer’s drug Aduhelm. The anticipated price hikes add additional worries for Medicare patients.

According to Todd Shyrock of Medical Economics, “Medicare patients are having to make difficult decisions. The majority, 51%, are reducing discretionary spending on things like travel and entertainment. However, 29% are also cutting back on necessities, including groceries and utility bills. Twenty-three percent of seniors are coping with inflation by dipping into savings, while 15% are trying to reduce their health care costs by skipping prescription medications or delaying medical procedures.”

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(Source: Medical Economics, February 23^rd, 2022)