New survey shows worries loom large over safety net programs and health care affordability in the US

Considerations over the potential insolvency of Medicare amongst these underneath 65 have risen, with 73% now expressing fear that it will not be out there after they want it, up from 67% in 2022, in accordance with the brand new West Well being-Gallup 2024 Survey on Growing old in America. Fear rose most amongst these aged 50 to 64, up 13 share factors to 74%. Larger percentages of adults specific concern about the way forward for Social Safety, with 80% of individuals underneath 62 and 86% of individuals aged 40 to 49 fearing it won’t be round as soon as they’re eligible.

Based on the annual Social Safety and Medicare Trustees Report launched final month, there may be trigger for concern. Medicare’s hospital insurance coverage belief fund is forecast to be depleted in 2036 and Social Safety’s belief funds are anticipated to run dry in 2035, making the applications unable to pay full advantages to retiring People.

“Threats to Medicare and Social Safety loom massive, and individuals are anxious policymakers will not do sufficient to guard and strengthen them,” says Timothy Lash, President, West Well being, a nonprofit targeted on well being care and getting old. “These security internet applications are a part of the material of getting old that hundreds of thousands of older People rely on, so any potential disruption or query mark round them is trigger for alarm and deserving of larger consideration and motion from policymakers.”

Most People don’t suppose the federal government prioritizes points affecting older adults. When requested within the survey how a lot the federal government prioritizes points affecting older People, 74% say “not very a lot” or “under no circumstances.” This sentiment is felt by 80% of these 65 and older. Over half (57%) of People report they’re both “considerably extra doubtless” (37%) or “more likely” (20%) to help a candidate for public workplace that makes points affecting older People a prime precedence. This sentiment will increase with age, peaking at 77% amongst these aged 65 and older.

Two-thirds of People really feel the nation will not be ready to handle the general wants of its more and more older inhabitants. By 2034, the U.S. Census Bureau tasks, there will likely be extra People aged 65 and older (77 million) than underneath the age of 18 (76.5 million), a primary in U.S. historical past and making up practically 1 / 4 of all the inhabitants.

“The truth that such a big share of U.S. adults observe little prioritization of points affecting older People underscores the extent to which such prioritization might affect voting preferences, notably amongst these already eligible for the federal security internet applications and people who will likely be quickly,” says Dan Witters, Analysis Director of the Gallup Nationwide Well being and Properly-Being Index.

However the Survey on Growing old in America finds it is not simply the longer term individuals are anxious about—they’re struggling now. An estimated 72.2 million—or practically one in three adults—People haven’t sought wanted well being care within the final three months as a result of value, together with 8.1 million People aged 65 and older. Almost one-third (31%) are involved about their means to pay for prescribed drugs within the subsequent 12 months, up considerably from 25% in 2022. This concern is rising even quicker amongst older People, who skilled an 11-point enhance from 20% to 31% within the final two years.

Psychological well being challenges have additionally emerged as a key challenge for People. Over one-quarter (28%) report that their psychological well being has worsened during the last three years. Amongst older People, these aged 65 and above, one-fifth report that their psychological well being has worsened (21%) in comparison with simply 17% that mentioned it has improved.

“People are clearly anxious about what the longer term holds for them as they get older. Will Social Safety and Medicare nonetheless be round? Will they be capable to afford their medical payments? Will the federal government assist tackle their considerations?” says Shelley Lyford, Chair and CEO, West Well being. “The reply to all these questions needs to be sure, and policymakers ought to act shortly to offer People one thing to vote for and fewer to fret about.”

Methodology

Outcomes are based mostly on a survey performed by each mail (targeted on older People) and the net from Nov. 13, 2023, to Jan. 8, 2024, with 5,149 adults aged 18 and older, dwelling in all 50 U.S. states and the District of Columbia as part of the Gallup Panel. Panelists aged 65 and older have been oversampled to extend the steadiness of outcomes for this phase of the inhabitants.

For outcomes based mostly on this pattern of nationwide adults, the margin of sampling error on the 95% confidence stage is ±1.7 share factors for response percentages round 50% and is ±1.0 share factors for response percentages round 10% or 90%, design impact included. For reported age subgroups, the margin of error will likely be bigger, usually starting from ±3 to ±5 share factors.

Supplied by
West Well being Institute