How the erosion of employer-sponsored insurance is contributing to Medicare beneficiaries' financial burden

How the erosion of employer-sponsored insurance is contributing to Medicare beneficiaries' financial burden

Collection:
Health Policy and Services Research
Series Title(s):
Issue brief (Commonwealth Fund)
Author(s):
Davis, Karen, author
Willink, Amber, author
Schoen, Cathy, author
Contributor(s):
Commonwealth Fund, issuing body.
Publication:
[New York, N.Y.] : The Commonwealth Fund, July 2019
Language(s):
English
Format:
Text
Subject(s):
Health Benefit Plans, Employee -- economics
Health Benefit Plans, Employee -- statistics & numerical data
Health Benefit Plans, Employee -- trends
Medicare -- economics
Medicare -- statistics & numerical data
Medicare -- trends
United States
Genre(s):
Technical Report
Abstract:
ISSUE. More Medicare beneficiaries are facing the costs of health care and supplemental coverage in retirement without assistance from their former employers. As a result, more Medicare beneficiaries, especially those with low to middle incomes, face financially burdensome premiums. GOAL. With employers shouldering less of the cost of health care in old age, public policies will need to be developed to ensure an adequate safety net of health insurance coverage for Medicare beneficiaries. This issue brief examines trends in supplemental health insurance coverage and implications for beneficiaries at different income levels. METHODS. Profile trends in supplemental insurance coverage and premiums of Medicare beneficiaries by income groups using the 2010 and 2016 Medicare Current Beneficiary Survey. KEY FINDINGS. The proportion of Medicare beneficiaries with supplemental employer-sponsored insurance (ESI) dropped between 2010 and 2016. The erosion of ESI was particularly marked for those with low and middle incomes. Beneficiaries not eligible for Medicaid face average annual premiums of more than $500 for Medicare Advantage coverage and four times that for Medigap coverage, on top of standard Medicare Part B annual premiums. CONCLUSION. Improving Medicare's benefits would reduce the need for supplemental coverage and protect aging beneficiaries against the unpredictable cost of health care.
Copyright:
Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY license. (More information)
Extent:
1 online resource (1 PDF file (9 pages))
Illustrations:
Illustrations
NLM Unique ID:
101755566 (See catalog record)
Permanent Link:
http://resource.nlm.nih.gov/101755566