Rising Health Care Costs Causing Many to Forgo Treatment

Today’s retirees face a double whammy when it comes to health care that is forcing them to make decisions that are putting their health at risk.

The combination of rising health care costs and the need for additional care as they age has caused many to forgo treatment.

In a recent survey conducted by Mutual of Omaha of consumers over 60 revealed about one in four delay or avoid one or more of these treatments due to cost:

• Consulting with a doctor
• Taking a medical test or diagnostic procedure
• Filling a prescription or taking a required dose of medication
• Having surgery

Unsurprisingly, much of that behavior was based on the respondent’s income. Only 11% of those earning $100,000 or more said they have put off any of these options. Consumers over 75 were also more compliant. Just 12% in this age range said they skipped treatment because of costs.

Unexpected medical expenses caught some of the survey respondents off guard forcing them to make difficult choices.

“This year has been tough because I had knee surgery and physical therapy, and my out-of-pocket costs really ate into my monthly income,” said one 75-year-old woman.  “Physical therapy alone, took half of my Social Security for three months.”

“Due to the cost of copays not covered by my insurance, I have had to cancel a couple of back surgeries,” said one 74-year-old woman.

Those faced with tough decisions such as this have options that can help them manage or even lower expenses and still get the care they need, said Mutual of Omaha Vice President and Chief Medical Officer Dr. Manoj Pawar.

“Before you decide to skip a procedure or choose to not fill your prescription, talk to your doctor about options that are available to you,” Pawar said. “In many cases, they suggest alternatives and resources that can help you get the care you need while still respecting your budget.”

Findings are from a September 2023 Mutual Insights survey of 400 U.S. consumers ages 60 and older.