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June 28, 2005 at 08:00 PM
Most young retirees and near retirees are willing to set aside a portion of their earnings in a special account to save for future medical expenses not covered by Medicare. [@@]
Researchers have published figures describing attitudes about retirement health savings in a report on a survey of 2,000 U.S. ages 50 to 70 that was backed by the Commonwealth Fund, New York.
Researchers found that 69% of the survey participants support the idea of dedicating 1% of their earnings to a new Medicare Health Account that would help them pay for long term care services and other services not covered by Medicare and supplemental insurance programs.
The MHA concept drew broad support from the baby boomers and “Silent Generation” members who participated in the survey. Support was largely independent of the participants’ income, political affiliation, region and health status, according to the researchers who organized the survey.
“It is clear that older Americans are anxious for policy solutions that would improve their ability to protect against the high cost of medical care, and make it easier to increase their retirement savings,” says Commonwealth Fund President Karen Davis.
Davis says older Americans are becoming less protected from the high cost of medical care.
