Most Older Americans Lack Confidence in Medicare, Data Shows

A new TD Ameritrade survey found Americans' confidence in Medicare is flagging, the Motley Fool reports. Seventy-six percent of U.S. adults 45 and older with more than $250,000 in investable assets plan to use Medicare as their main retirement-support instrument, the research shows. However, just 44 percent feel Medicare will cover most of their healthcare costs. Medicare will not cover a welter of services important to older adults, including routine oral healthcare, routine eye care, and hearing services. However, Medicare Advantage can be used to pay for all healthcare services. Whether Medicare Advantage is more affordable to older adults than original Medicare depends on the specific plan beneficiaries select. Moreover, many Medicare Advantage plans, unlike original Medicare, offer a yearly out-of-pocket maximum, capping healthcare spending at a certain point while also covering services outside the United States.