Millions of seniors face significant debt due to healthcare costs not covered by Medicare. While Medicare covers many essential services, it excludes crucial areas like dental, vision, hearing, and long-term care, leaving seniors vulnerable to substantial out-of-pocket expenses.
Many seniors underestimate these costs, leading to accumulating medical debt. Medicare Advantage plans sometimes offer limited coverage for these excluded services, but often with restrictions and copays. The lack of comprehensive coverage disproportionately impacts low-income seniors, who often forgo necessary care due to cost.
Dental care is a major concern, with many seniors lacking access to affordable dental insurance and facing high costs for procedures like dentures and implants. Vision care, including eyeglasses and eye exams, is also largely uncovered. Similarly, hearing aids, which can significantly improve quality of life, are rarely covered by traditional Medicare.
Long-term care, encompassing services like assisted living and in-home care, poses the most significant financial burden. Medicare only covers limited skilled nursing care following a hospital stay, leaving the vast majority of long-term care expenses to be paid out-of-pocket or through long-term care insurance, which is often unaffordable. This can quickly deplete savings and lead to debt for seniors and their families.
find the original article here: https://finance.yahoo.com/news/what-medicare-doesnt-pay-for-becomes-hefty-debt-for-millions-of-seniors-143008858.html