Published
It helps to understand the different "parts" of medicare. It can be very confusing for older adults, and those who don't purchase a supplemental Part B can get stuck with medical bills they don't expect. Part D is another animal all together, and people can get a rude awakening to prescription costs once they hit the donut hole.
For example, my MIL has Part A, Part B, part B supplemental and Part D. Last year, she paid more than $10,000 out of pocket between premiums, co-pays, deductibles, and prescriptions. This is on a SS income of less than $1K per month. She scrimped and saved all her life. That is the only way she's survived financially this long.
People think Medicare is "free healthcare." No, it is definitely not "free."
jenannebeard
16 Posts
Hey all,
I have to answer a question and I can't seem to find a good resource for information. The question is...
How does current health care financing influence the lives of older adults?
I've been trying to search how the cost of health care impacts older adults but all I can find is how older adults are a large part of medical expenses. Any have any good links? Thanks!