The National Council on Aging recently released the results of a survey which found many seniors and baby boomers are unaware of changes altering the Medicare program.
Given that tens of millions of people in these demographics are expected to become eligible for the program in the next 20 years, and many already are, this lack of understanding is a major concern.
More than 1,500 seniors and baby boomers over the age of 60 were surveyed, and more than half of respondents indicated they did not understand Medicare at all, or that the program's structure was confusing.
"These findings show that Medicare beneficiaries either are not getting the information they need to understand the program or that the information that's currently available isn't resonating with them. Both scenarios are worrisome today but also of great concern given the significant growth on the horizon for Medicare as boomers age in," said the National Council on Aging's president and CEO, Jim Firman.
Many did not know that Medicare Part A covers hospital care costs, or that Part C can assist with the expense of doctors visits and prescription drugs. Less than a quarter of respondents understood that Part B helps cover doctors visits.
Perhaps worse, almost 19 percent of those who already have Medicare coverage indicated they did not know what type it was.
