Nearly Half of Older Americans Worry They Can't Afford Insurance by Retirement Age

A study in JAMA Network Open warns that almost half of older Americans are concerned about their ability to afford health insurance by retirement age, while 27 percent are unsure they will have insurance within a year's time, reports Gizmodo . Although any legal resident older than 65 in the United States is entitled to Medicare, many older Americans have historically struggled to pay for health insurance prior to that age — and Medicare programs still require people to pay premiums and deductibles, while more costly supplemental insurance is required for vision and dental care. A 2017 Senate report found the uninsured rate among Americans 50 to 64 had declined from 12 percent in 2013 to 6 percent in 2015, yet less attention is devoted to whether these citizens are still worried about their future medical costs, even if they currently have coverage. Forty-seven percent of study respondents had little to no confidence in being able to afford health insurance by the time they retire, and about two-thirds were at least a little worried about potential federal changes to their health insurance. Moreover, many respondents did not receive the medical help they needed because it was unaffordable. "Policy solutions are needed to enhance the stability of health insurance affordability and availability for adults in this age group," the authors concluded.