According to a study by the National Bureau of Economic Research, per capita health care spending for the elderly in the US is substantially higher than for the population as a whole.
One reason for this is high prescription drug prices since older Americans in general depend on prescription drugs for their well-being. According to one health policy expert at Johns Hopkins University, seniors who are on Social Security and who spend 10 percent or more of their income on health care have difficult decisions to make about where to live, what they can eat, and spending on other essential services.
That’s especially true this past year with the rapidly rising inflation that has hit as a result of the coronavirus disruptions to our economy.
There is some good news, however, regarding relief from some medical bills.
According to an article in Kaiser Health News, “The Affordable Care Act, the health law also known as Obamacare, requires nonprofit hospitals to make financial assistance available to low-income patients and post those policies online. Across the U.S., more than half of hospitals are nonprofit — and in some states all or nearly all hospitals are nonprofit. But many people who qualify for financial assistance — or ‘charity care,’ as it is sometimes known — never apply.”
You can read more about this assistance here: CLICK HERE