Americans fear a future of aging without adequate social support for the elderly.
The latest survey on aging in America released Tuesday found that a majority of people under 65, 73%, are worried that Medicare won’t help them out when they need it, up sharply from 67% in 2022.
The survey, conducted by West Health, a nonprofit that supports seniors, in partnership with Gallup, highlights growing fears that living longer will mean being unable to pay for health care.
Eighty percent of Americans under age 62 surveyed are concerned about the future of Social Security, and 86% of respondents ages 40 to 49 think funds won’t be available when they reach eligibility age. Overall, two-thirds of respondents believe the U.S. doesn’t provide enough policies and support for seniors, and experts say their concerns are not unfounded.
The population over 65 is expected to nearly double over the next 40 years, reaching 80 million by 2040, and some experts predict that there will not be enough programs in place to help them.
be report According to the U.S. Treasury Department, the Old Age and Survivors Insurance Trust Fund (OASI) and Disability Insurance Trust Fund (DI) (also known as Social Security) will be depleted by 2035 and will not be able to support the elderly adequately and quickly. The Medicare Hospital Insurance Trust Fund (HI) will not be able to meet demand by 2036.
“The threat to Medicare and Social Security looms large, and people are worried that policymakers won’t do enough to protect and strengthen them,” said Timothy Rush, president of WestHealth. press release“These safety net programs are part of the aging society that millions of older Americans rely on, so any potential disruption or question mark over them is alarming and requires further attention and action from policymakers.”
Practical solutions are timely: A growing number of Americans want a president who can assure them that helping aging Americans is their top priority. A majority of those surveyed, 57%, said they would somewhat or very much support a candidate who prioritizes policies that support the health and future of older adults.
The survey also revealed that Americans are currently struggling to pay for their medical bills. One in five Americans say that medical costs, especially the cost of prescription drugs, are a major financial burden. Financial stress around medical bills is likely contributing to the increase in mental health issues facing older Americans.
The survey found that one in five adults over the age of 65 reported that their mental health had worsened in the past three years, and one in five said they had wanted to talk to a professional about a mental health condition but were unable to do so — because older adults are less likely to seek help for mental health issues than people under the age of 50.
“Clearly, Americans are worried about what the future holds as they get older: Will they still have Social Security or Medicare? Will they be able to afford health care? Will the government address their concerns?,” West Health CEO Shelley Raiford said in a statement. “The answer to all of these questions should be yes, and policymakers should act swiftly to give Americans a reason to vote and reduce their worries.”
Rush speaks luck In an email interview, he said now is the time to ensure funding for the future of seniors for decades to come. “We need to act now to protect Medicare and Social Security and not let Americans believe these important programs are going away,” he said. “We also need to protect and expand the health care provisions of the Control of Inflation Act, and we need to better coordinate care for our aging population, reduce health care costs for all as we age, and achieve true equity in physical and mental health in our health care system.”
West Health and Gallup surveyed more than 5,000 American adults across the country, taking into account a higher proportion of seniors aged 65 and older.
For more information on Medicare and the Ageing Wave, see:
