Seriously ill Medicare beneficiaries can face considerable financial hardship

https://www.eurekalert.org/pub_releases/2019-11/htcs-ssi110119.php

News Release 4-Nov-2019
Harvard T.H. Chan School of Public Health

Despite high beneficiary satisfaction with Medicare overall, a new national survey led by researchers from Harvard T.H. Chan School of Public Health, Harvard Business School, and colleagues finds that its coverage gaps may cause considerable financial distress for the most seriously ill patients. About half reported a significant problem paying medical bills, with prescription drugs posing the most hardship.

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Among the respondents, 53% reported having a serious problem paying a medical bill of any kind, with 30% reporting difficulty paying for prescription drugs, followed by hospital bills (25%). Beneficiaries also reported experiencing financial hardships due to the costs of their illness, including using up all or most of their savings (36%) and being unable to pay for necessities such as food, heat, and housing (23%). Emotional or psychological distress was reported by 45% of respondents.

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