Medicare, Money, Health – Cost of Complacency
Healthcare costs rank most burdensome among common living expenses for seniors, yet seniors are more likely to comparison shop for groceries, gas, cable and internet service and even travel deals, than they are to shop for a Medicare plan. That’s according to a new survey “The Cost of Complacency,” which reveals surprising perceptions and behaviors among seniors when it comes to healthcare.
Only one-third of seniors reported they comparison shop for a Medicare plan at all, and only approximately one in three seniors (38 percent) review their Medicare plan annually to determine if they are getting the best deal.
Given that healthcare spending is expected to increase year over year for the vast majority of seniors, and that virtually every Medicare plan changes each year, seniors could be missing out on savings and putting their retirement savings at risk if they aren’t planning ahead.
Risks faced by seniors when they don’t take the time to review their Medicare plans, as well as what to look for in reviewing a Medicare plan, before enrollment closes. These decisions can affect seniors in both the near and long-term.
Bart Astor is a recognized expert in life’s transitions and eldercare. He’s the author of the Washington Post bestseller, AARP Roadmap for the Rest of Your Life: Smart Choices about Money, Health, Work, Lifestyle, and Pursuing Your Dreams, and the best-selling book, Baby Boomer’s Guide to Caring for Aging Parents.
Bart has appeared on numerous national TV and radio shows, including AARP Radio, Boomers Rock radio and Ric Edelman’s “The Truth About Money.”
