Due to the fact that low-income older individuals are in worse health than their higher-income counterparts and have fewer financial assets to fall back on when faced with significant medical bills, Medicare coverage is especially crucial to them.
With Medicaid support, elderly impoverished families still have to devote one-third of their family’s income to health-care expenditures. When compared to higher-income older Americans, low-income elderly Americans face more health problems and make more use of health-care services, resulting in higher costs for treatment and medication.
In particular, low-income senior persons have become increasingly reliant on Medicare coverage, owing to the fact that they are in worse condition than high-income older people and, as a result, are more likely to seek medical attention.
Over one-third (36 percent) of the aged poor have Medicaid supplementary coverage, 46 percent have private medicare supplement plans, and 18 percent rely entirely on Medicare. Private insurance coverage is more comprehensive among the near-poor elderly, with 64 percent of them being covered by private insurance. 15 percent of the elderly who are near poverty have
With Medicare serving as a universal foundation for health-care coverage, the senior poor and near-poor who qualify for Medicaid supplementation are able to get standard medical treatment without incurring a significant financial hardship. 68