No Change: 31.5%
62.6% Say Paying Health Care Costs is Their Biggest Financial Concern
BURLINGAME, Calif.–(BUSINESS WIRE)–A December 2009 survey of 1,030 Medicare-eligible retirees revealed that 32.3% believe the economy in 2010 will get better, 22.9% believe it will get worse, and 31.5% believe it will stay the same. At the same time, 48.2% rate their personal financial situation as “good” or “excellent,” while 46.5 % say it is “fair.” Just 5.3% say their personal financial situation is “fairly bad” or “terrible.”
“Especially for retirees on fixed incomes, rising health care costs can threaten their peace of mind”
The survey also revealed that paying for health care and medical expenses is the biggest financial concern of retirees by a wide margin – 62.6% compared to 21.6% for saving money and 14.2% for paying everyday bills.
The survey was fielded by Extend Health, Inc., which operates the largest private Medicare Exchange in the country and whose 400+ benefit advisors have helped more than 250,000 Medicare-eligible retirees find and evaluate private Medicare plans that meet their personalized needs since the exchange was launched in 2006.
According to Bryce Williams, President and CEO, the survey results underscore retirees’ concerns about the impact of rising health care costs. “Especially for retirees on fixed incomes, rising health care costs can threaten their peace of mind,” said Williams.
Extend Health surveys its retiree customers frequently on their views of health care, Medicare, and finances, and publishes the results.
Questions and detailed results are as follows:
In 2010, the economy will:
Get better 32.3%
Get worse 22.9%
Stay the same 31.5%
Don’t know 13.4%
Your personal financial situation is:
Fairly bad 4.5%
Your biggest financial concern is:
Paying your everyday bills 14.2%
Paying for health care and medical expenses 62.6%
Saving money 21.6%
Paying for dinner out or entertainment 1.0%
Buying gifts for your family 0.6%
About Extend Health
Extend Health, Inc. operates the largest private Medicare exchange in the country. Launched in 2006, the Extend Health Medicare Exchange and the company’s licensed and certified benefit advisors have helped more than 250,000 Medicare-eligible retirees nationwide identify and evaluate private Medicare plans that best meet their needs and budgets based on their personal medical and pharmaceutical needs. Based in Burlingame, California, Extend Health also has helped Fortune 500 companies, unions, and municipalities save up to 35% on health care coverage for Medicare-eligible retirees when compared to employer group plans. For more information, visit Extend Health on the web at http://www.extendhealth.com.