Medicare at 60 Years Old: Eight in 10 Americans Not Yet Enrolled Worry the Program Won't be There for Them
MWN-AI** Summary
As Medicare celebrates its 60th anniversary on July 30, 2025, a significant survey conducted by eHealth, Inc. and Retirable reveals that eight in ten Americans not yet enrolled express concern regarding the program’s longevity. This apprehension is particularly pronounced among Millennials, with 85% fearing Medicare may not be accessible when they retire. The survey, which included responses from over 1,000 individuals, highlights a substantial gap in understanding healthcare expenses in retirement; 76% of respondents underestimated these costs, with many thinking they would spend $100,000 or less, despite estimates nearing $200,000 for retirees.
Concerns extend to Social Security, which will also mark a milestone anniversary on August 14. Similar percentages of Americans—80%—worry about its viability, although Baby Boomers show less concern. Misconceptions about qualification lengths and average monthly benefits further complicate public perception; many either underestimate or overestimate these figures.
Despite this anxiety, 78% maintain a positive outlook on Medicare, while 73% feel the same about Social Security. Fran Soistman, CEO of eHealth, stresses the importance of understanding these programs to secure financial well-being in retirement. He encourages proactive planning and informed decision-making regarding healthcare and retirement finances.
Tyler End, co-founder of Retirable, amplifies this message, advocating for realistic expectations around healthcare costs. With both Medicare and Social Security facing scrutiny, the need for comprehensive knowledge and preparation for retirement emerges as crucial for future financial security. This survey serves as a timely reminder for Americans to reassess their retirement strategies and healthcare planning as they approach these social safety net milestones.
MWN-AI** Analysis
As Medicare celebrates its 60th anniversary, a recent survey indicates significant concern among Americans regarding the program's long-term viability, particularly among those not yet enrolled. Strikingly, 80% of respondents express worry that Medicare won't be available in the future, with Millennials demonstrating heightened apprehension. This sentiment underscores an urgent need for individuals to reassess their healthcare planning and retirement strategies.
The survey reveals a stark contrast between perceived and actual healthcare costs in retirement. While many respondents expect to spend less than $100,000, current estimates suggest that retirees may face average healthcare expenses of nearly $200,000. This gap highlights the necessity for proactive financial planning, as miscalculating these costs could jeopardize one’s retirement lifestyle.
For potential retirees, the advice is clear: Start comprehensive retirement planning early. Engaging with a retirement-focused financial planner can provide clarity on the expected healthcare costs and facilitate informed decisions about how to optimize retirement savings. Given the uncertainty surrounding Medicare and Social Security, diversifying investment portfolios may also offer a safety net against potential future shortfalls in government programs.
Moreover, as public sentiment favors maintaining Medicare, advocacy for reform may be key. Individuals should stay informed about legislative changes that could impact these benefits while actively participating in discussions that prioritize the sustainability of healthcare programs.
In conclusion, with rising costs and a wavering perception of Medicare's longevity, it's critical for Americans in their working years to recalibrate their retirement expectations, bolster their savings, and seek expert guidance – ensuring that they secure the best possible financial outcomes as they transition into retirement.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
As Medicare turns 60 on July 30 th and Social Security hits 90 on Aug. 14 , 80% of Americans not yet enrolled worry these programs won't be there for them
New survey of over 1,000 Americans shows that 76% underestimate average healthcare costs in retirement
AUSTIN, Texas , July 10, 2025 /PRNewswire/ -- eHealth, Inc. (Nasdaq: EHTH), a leading online private health insurance marketplace, and Retirable today released new original research showing most Americans are worried about the long-term health of both Medicare and Social Security. With milestone birthdays for these social safety net programs approaching, the survey of over 1,000 Americans found the following:
On Medicare and healthcare
- 80% of people not yet enrolled in Medicare worry it won't be there for them , with members of the Millennial generation the most pessimistic.
- 76% of all respondents underestimate or don't know the average cost of healthcare in retirement. Over one third (40%) expect to spend $100,000 or less, but current estimates show the average retiree will have nearly $200,000 in costs.
- 34% are unwilling to raise taxes or reduce benefits to ensure Medicare's survival for future generations ; 30% are willing to reduce benefits for current Medicare beneficiaries to achieve that goal; and 24% are willing to increase payroll taxes.
- 78% have a positive view of Medicare , but 81% still worry about retirement healthcare costs.
On Social Security
- 80% of those not yet enrolled in Social Security worry it won't be there for them , with Baby Boomers the least concerned (68%) and Millennials the most (85%).
- 28% of Americans underestimate how long people need to work to qualify for Social Security ; 26% overestimate the number of years necessary; and 26% don't know. The correct length (10 years) was selected by 20% of respondents.
- 47% of Americans underestimate the average monthly Social Security payment , while 35% overestimate it. The correct amount (about $2,000 ) was selected by 17% of respondents.
- 54% of all respondents think Social Security will remain solvent longer than current predictions (2033) or don't know when it may become insolvent. Conversely, 17% expect the program to remain solvent through 2050 or longer.
- 73% have a positive view of Social Security .
"Medicare and Social Security have served as vital social safety net programs for decades, but our survey shows millions of Americans are concerned about the long-term sustainability of each," said Fran Soistman , CEO of eHealth . "At the same time, many people have misperceptions or lack the information necessary to maximize the value of these programs, which can harm their financial well-being or quality of life."
Mr. Soistman added, "To mark the upcoming birthdays of Medicare and Social Security, we fielded this survey to highlight the important connection between personal healthcare and financial well-being, and to encourage all Americans to make more informed decisions when it comes to Medicare and their retirement planning."
"Whether you're approaching retirement or already retired, it's important to have realistic expectations about your future healthcare costs," said Tyler End , Co-Founder and CEO of Retirable , the retirement platform built for everyday Americans offering the ongoing care of an advisor and services across retirement investing, planning and spending. "Just as a licensed health insurance agent helps optimize coverage to your needs and budget, a retirement-focused financial planner offers personalized guidance to grant you peace of mind for your future."
Read the full report .
About the survey
eHealth and Retirable's findings are based on a June 2025 general population survey of American adults conducted through a national survey vendor. A total of 1,111 responses were collected, with a margin of error of plus or minus 3%.
About eHealth (NASDAQ: EHTH)
We're Matchmakers. For over 25 years, eHealth has helped millions of Americans find the healthcare coverage that fits their needs at a price they can afford. Consumers can visit our health insurance marketplace at eHealth.com , or call us to speak with a licensed insurance agent at 1-800-EHEALTH (1-800-343-2584), TTY 711. As a leading independent licensed insurance agency and advisor, eHealth offers access to over 180 health insurers, including national and regional companies.
For more information, visit ehealth.com or follow us on LinkedIn , Facebook , Instagram , and X . Open positions can be found on our career page .
eHealth media inquiries: pr@ehealth.com
About Retirable
Retirable, the retirement peace of mind platform, offers products and services across the retirement investing, planning, spending and protecting spectrum. Retirable was founded by industry veterans to empower a worry-free retirement for everyone. By opening access to financial guidance for retirement, Retirable gives its clients greater confidence and control when they need it most. Headquartered in NYC and founded in 2019 by Tyler End , CFP® and Ian Yamey, Retirable is backed by Primary, Diagram, Vestigo Ventures, Portage and Primetime Partners.
For more information about Retirable, please visit www.retirable.com .
Retirable media inquiries: press@retirable.com
SOURCE eHealth, Inc.
FAQ**
How do concerns about the sustainability of Medicare, as highlighted by the eHealth Inc. EHTH survey, impact investment strategies in healthcare sectors?
2. Given that 76% of Americans underestimate retirement healthcare costs, how can eHealth Inc. EHTH leverage this information to enhance its offerings and educate potential clients?
3. With 3of respondents unwilling to increase taxes or reduce benefits for Medicare's survival, what implications does this have for eHealth Inc. EHTH's future revenue streams in health insurance?
4. Considering that many people lack knowledge about Medicare costs, what role can eHealth Inc. EHTH play in providing financial guidance to improve public understanding and confidence in their retirement planning?
**MWN-AI FAQ is based on asking OpenAI questions about eHealth Inc. (NASDAQ: EHTH).
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