“Even If You Have Medicare, You’ll Still Pay Thousands Out-Of-Pocket For Health Care,” by Howard Gleckman, Forbes Quote: “One of the biggest misconceptions seniors have about health care is this: I have Medicare so don’t need to worry about medical costs in old age. It is a dangerous mistake. Not only does traditional Medicare generally not pay for long-term supports and services (either at home or in a nursing home), but it doesn’t pay for a significant chunk of medical treatment. And while most seniors purchase Medicare Supplement (Medigap) insurance to top up their basic Medicare, even they may incur significant
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“Long-term care resident Medicare beneficiaries spend $22,384 out of pocket for healthcare annually: study,” by Lois A. Bowers, McKnight’s Senior Living “Residents of long-term care facilities who have traditional Medicare coverage spent an average of $22,384 out of pocket for healthcare in 2016, the latest data available, according to a new analysis of Centers for Medicare & Medicaid Services data by the Kaiser Family Foundation. In the study, ‘long-term care facility’ was defined to include assisted living, personal care facilities and retirement homes …. Eighty-eight percent of the out-of-pocket healthcare costs for long-term care residents, or $19,632, went toward the cost of long-term care
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