Americans fear for a future where they age without adequate social support for older adults. According to the newly released Survey on Aging in America, published Tuesday, the vast majority of people under 65—73%—fear Medicare will not be around to support them when needed . It’s a jump from 67% in 2022.
The survey, conducted by West Health, a non-profit supporting aging adults, in partnership with Gallup, underscores the growing fear many have of being unable to afford the health care costs of a longer life. Eighty percent of Americans under 62 surveyed are concerned about the future of Social Security, and 86% of respondents between ages 40 and 49 don’t think the funds will be available when they reach the age of eligibility. Overall, two-thirds of respondents don’t believe the U.
S. has adequate policies and support for older adults, and experts say their fears are not unwarranted. As the number of people 65 and older is predicted to nearly double in the next 40 years and reach 80 million by 2040, some experts predict that there won’t be enough programs in place to support them.
According to a report from The U.S. Department of the Treasury, The Old-Age and Survivors Insurance Trust Fund (OASI) and the Disability Insurance Trust Fund (DI), known as Social Security, will be depleted by 2035 and will not be able to fully and promptly support older adults.
Medicare’s hospital insurance trust fund (HI) will not be able to meet demand by 2036. “Threats to Medicar.
