According to the Centers for Medicare & Medicaid Services, U.S. adults ages 65 and over each spent $22,356 on personal health expenses in 2020. That's almost 2.5 times higher than expenses for younger adults ($9,154).
If you need more help, those on Medicare with limited financial resources may qualify for Medicaid to cover health costs not covered by Medicare, with approximately 13 million dual-eligible individuals in 2021 receiving coverage under both programs.
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