The health problems Americans start facing when they reach 50 years of age are compounded when the high cost of healthcare prevents them from seeking treatment, taking their prescriptions or leading an otherwise healthy lifestyle. A survey of U.S. adults conducted by West Health and Gallup explored the various ways in which healthcare costs are affecting Americans aged 50 and older today.

The study shows that at least two-thirds of older Americans consider healthcare costs to be at least a minor financial burden. When looking at inability to pay for care, four in 10 report they are concerned; smaller but notable percentages are not seeking treatment, are skipping prescribed medicine or cutting back on basic needs such as food and utilities to pay for healthcare. These problems are generally worse for adults aged 50 to 64, as most do not yet qualify for Medicare, but they also affect those 65 and older.

Older Americans at Risk Due to Cost of Healthcare

More than a third of adults 65 and older (37%) are concerned they will not be able to pay for needed healthcare services in the next year, according to the most recent West Health-Gallup survey. The situation is even worse for older Americans who are not yet eligible for Medicare, with nearly half (45%) of adults aged 50 to 64 reporting the same concern level. This puts nearly 50 million adults aged 50 and older at risk for more severe illness and even death due to the cost of healthcare.

U.S. Department of Health and Human Services data show that out-of-pocket healthcare expenses for adults 65 and older rose 41% from 2009 to 2019; out-of-pocket expenses take up a greater proportion of individuals' expenditures as they age, because of an increase in demand for health services and the reality that Medicare does not cover all health expenses. People 65 and older spend nearly twice as much of their total expenditures on healthcare costs when compared with the general population, even with 94% in this age group being covered by Medicare.

As costs continue to climb over the next decade, the number of Americans 65 and older will also rise, by a rate of about 10,000 people per day, according to the U.S. Census. This rapidly growing group of older Americans -- which those currently 50-64 and aging into Medicare are entering -- is already saying healthcare costs are a financial burden (24% of those 50-64 call it a major burden; 48%, a minor burden). For substantial proportions of older Americans, this burden results in sacrificing basic needs to pay for healthcare -- about one in four adults 65 and older and three in 10 aged 50-64 cut back on food, utilities, clothing or medication due to healthcare costs. This hardship is experienced to a greater degree by older women and Black Americans.

Adults 65 and Older Are Forgoing Needed Care

The West Health-Gallup survey shows that a sizable proportion of the older adult population copes with healthcare costs by skipping treatments and cutting back on basic and essential needs. The avoidance of vital medical care could compound negative health outcomes now and in the future.

Twelve percent of those 65 and older -- which represents approximately 6.5 million people -- say they or a member of their household had a health problem in the last year that they did not seek treatment for due to cost. Eleven percent of Americans in this age group -- 6 million people -- report that they or a family member skipped prescribed pills to save money.

Doreen Ferraro, a 71-year-old woman from New York, is one older American who has had to forgo care; she explains the calculus some older Americans go through when deciding on treatment: "I was supposed to have a back surgery, but I found out that the copay for the hospital was $350. That would wipe out any savings I have completely. So, I haven't had the surgery done, and I have great pain when I stand up."

Adults Aged 50-64 Face Acute Healthcare Challenge

Adults aged 50-64 have a particularly hard time affording healthcare, given that they are old enough to be experiencing health problems but too young to qualify for Medicare. About one in four such Americans (26%) -- more than twice the rate among adults 65 and older -- say they or a member of their household recently did not seek treatment because of the cost.

Another 18% of adults in this age group (also elevated in comparison with those 65+) say they or a family member has skipped prescribed medication to save money.

There is A Better Way To Save Money On The Cost Of Health Care