The High Cost of Out-of-Pocket Expenses (while on Medicare)

[dkf]

On average, people with Medicare coverage paid $38,688 for medical care in the last five years of life.

There was enormous variation, with 25 percent of participants spending an average $101,791 out-of-pocket for medical services and 25 percent spending an average $5,163 during this period.

One-quarter of older adults incurred out-of-pocket medical expenses that exceeded the total value of their assets during this five-year period. Forty-three percent of older adults incurred expenses that exceeded their assets, excluding the value of their homes.

People with Alzheimer’s disease spent more than those with any other type of illness — an average $66,155 during the last five years of life, compared with average spending of $32,129 for cancer, $37,996 for cardiovascular disease and $38,517 for diabetes.

Long-term care expenses (nursing home, assisted living), which aren’t covered by Medicare, much to many families’ deep surprise, were the No. 1 category of out-of-pocket spending, followed by home health care.

http://newoldage.blogs.nytimes.com/2012/09/21/the-high-cost-of-out-of-pocket-expenses/

[Autumn]

1. That must be where the chained CPI will come in handy. n/t

[Wellstone ruled]

2. Oh boy!!! then add in all of the rebilling and audit billings

coming in afterwards. Been there done that,had third party and fourth party bill collection agency sending statements and calls after our parents were dead for years. Blood thirsty BASTURDS!!!!!!!!