Monday, 9 Jun 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • White
  • VIDEO
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Colossal
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > What Medicare doesn’t pay for becomes hefty debt for millions of seniors
Economy

What Medicare doesn’t pay for becomes hefty debt for millions of seniors

Last updated: May 31, 2025 7:50 am
Share
What Medicare doesn’t pay for becomes hefty debt for millions of seniors
SHARE

Connie Morton, a resident of Colonial Beach, Va., faced a devastating loss when her husband passed away last November due to complications from Parkinson’s disease. After 18 years of battling the illness, Connie’s husband was unable to work for the last nine years of his life, leaving Connie as his primary caretaker. The couple survived on Social Security and some assistance from his children, but they still struggled to cover the medical costs not covered by Medicare.

Unfortunately, the medical bills continued to pile up for Morton, especially after she broke her ankle earlier this year. The combination of uncovered medical expenses for the retired couple totaled around $90,000, leaving Connie in a difficult financial situation. She now faces the prospect of losing her home due to the overwhelming debt.

Morton is not alone in her struggles with healthcare debt among retirees. A growing number of older adults are facing similar challenges, with one in 10 people aged 65 or older owing $10,000 or more in healthcare debt. The cost of healthcare in retirement can be significant, with the average 65-year-old needing $165,000 in savings to cover out-of-pocket expenses throughout their retirement.

The burden of healthcare debt can have serious consequences for retirees, especially those living on limited incomes. Many people on Medicare struggle to afford necessary healthcare services, leading them to delay or skip medical treatments or prescription medications. This can have a detrimental impact on their health and well-being.

One of the main culprits of credit card debt among older adults is out-of-pocket medical costs. As people age, the amount they borrow to cover healthcare expenses increases significantly. Half of adults aged 50 and older who borrow money for healthcare expenses borrow $3,000 or more, highlighting the financial strain that healthcare costs can place on retirees.

See also  China and US kick off high-stakes trade talks in Geneva

To help manage and avoid medical debt, there are several steps that retirees can take. Planning for healthcare expenses and factoring them into your budget is crucial. Consulting a financial adviser, building a health savings account (HSA), and checking your credit report regularly can also help alleviate financial stress.

Scrutinizing medical bills, negotiating payment plans with providers, and seeking assistance from nonprofit credit counselors can also be effective strategies for managing medical debt. In some cases, tapping into retirement accounts or declaring bankruptcy may be necessary to address overwhelming debt.

Overall, it’s essential for retirees to be proactive in managing their healthcare expenses and seeking financial assistance when needed. By taking steps to address medical debt and plan for future healthcare costs, retirees can protect their financial well-being and ensure a more secure retirement.

TAGGED:debtdoesntheftyMedicareMillionsPayseniors
Share This Article
Twitter Email Copy Link Print
Previous Article Fossils show puzzling lack of evolution during last ice age peak Fossils show puzzling lack of evolution during last ice age peak
Next Article The Free Market Is Not a Tool for Politicos The Free Market Is Not a Tool for Politicos
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Oscars Ripped For Musical Acts After Axing Performances of Song Nominees

Disappointment Among Singers Over Missing Music Performances at Oscars The missing music performances at the…

March 2, 2025

Ancient humans may have faced radiation risk 41,000 years ago

A magnetic field disturbance could have allowed auroras to occur more widely 41,000 years agoEvgeniyQ/iStockphoto/Get​ty…

April 16, 2025

These Five Trailblazing American Women Will Be Featured on Quarters in 2025

The U.S. Mint recently announced the upcoming release of five new quarters featuring trailblazing American…

December 20, 2024

UEFA Champions League standings: Perfect Liverpool visit Girona as Real Madrid and PSG under pressure

City could also have a bearing on the coefficient standings. All six games have a…

December 8, 2024

Missouri reports H5 bird flu case in person without animal contacts| STAT

A person in Missouri who did not report any contact with animals has tested positive…

September 6, 2024

You Might Also Like

Qualcomm strengthens AI portfolio with .4 billion Alphawave deal
Economy

Qualcomm strengthens AI portfolio with $2.4 billion Alphawave deal

June 9, 2025
The demise of the penny?
Economy

The demise of the penny?

June 9, 2025
Military veterans object to Donald Trump’s intervention in Los Angeles
Economy

Military veterans object to Donald Trump’s intervention in Los Angeles

June 9, 2025
Garth Brooks’ Wife Trisha Yearwood Doesn’t Want Him to Be ‘Too Honest’
Celebrities

Garth Brooks’ Wife Trisha Yearwood Doesn’t Want Him to Be ‘Too Honest’

June 9, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?