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Paying for prescription drugs represented the most serious financial problem for Medicare beneficiaries in 2018.
More than half of Medicare beneficiaries who dealt with a serious illness reported having a “serious problem” paying a medical bill, according to a study published in Health Affairs Monday afternoon.
Paying for prescription drugs represented the most significant financial problem for Medicare beneficiaries in 2018, listed as the greatest financial hardship by 30% of respondents. This was followed by hospital bills at 25%, as well as ambulance bills and emergency department visits at 20% each.
Many Medicare beneficiaries have suffered significant financial consequences as a result of their illnesses, such as using most or all of their savings, receiving calls from debt collection agencies, or lacking the means to pay for basic necessities.
