Empty Wallet New Cause of Elder Death Dr. David J. Demko, gerontologist and editor-in-chief AgeVenture Syndicated News Service Too bad the elderly don't want to colonize Mars, because our government seems to have given space travel a higher priority than affordable medicine for the nation's oldest citizens. Yes, it's finally happened. The miracle of modern medicine has managed to make "staying alive" just too darned expensive. Now days, seniors aren't dying of old age, just empty wallets. Emptied by the ridiculously high cost of staying alive in the wealthiest nation on earth. Take HMOs for example. The cost of health care is so high, HMOs merely proclaim an elderly patient miraculously "well" ... then dump the "old-timer" in a cab headed for home. Problem solved. Managed Care manages to manage profits by managing to kill off the obstacles to a healthy bottom-line. Senior citizens who need health care the most can least afford it and face the greatest burden of out-of-pocket expenses for medical care, according to a Rutgers study published in the Journal of Gerontology: Social Sciences (2000). The study, "Out-of-Pocket Health Care Costs Among Older Americans," reveals elder Americans spend on average 19 percent of their total income on out-of-pocket medical expenses annually, with more than half of these payments going toward prescription drugs and dental care. Out-of-pocket expenses include health insurance premiums, medical co-payments and prescriptions. According to the study, the most vulnerable groups are: The lowest income level spends 32% of their income on out-of-pocket health care. Those in the top income level pay less than 9% of their income on out-of-pocket health care. Elders with poor health spend 29% versus those in excellent health, who spend 15%. Those age 85 and older pay 22% versus those age 65-74, who paid 17% in out-of-pocket costs. Those who did not complete high school, who spend 21% compared with 12% for college graduates. The research was funded in part by the AARP Andrus Foundation, the Agency for Healthcare Research and Quality, and the National Institute on Aging. See related articles in the AgeVenture archives. AgeVenture Headline News AgeVenture Lifestyle Features AgeVenture Opinion Points AgeVenture News Service, www.demko.com BACK TO TOP