New Interactive Takes a Look at Income and Assets Among Medicare Beneficiaries, Now and in the Future
A small share of the 52.4 million elderly individuals and people with disabilities on Medicare have relatively high incomes, but most are of modest means — with half living on incomes of less than $23,500 last year. Although the majority of beneficiaries have some savings, the value of their assets varies dramatically, and is much lower for black and Hispanic than white beneficiaries, for widows than for widowers, and for younger Medicare beneficiaries with disabilities and seniors over age 85.
You can see for yourself, and explore these differences in Medicare beneficiaries’ income and assets using the Foundation’s newest interactive tool. Start by selecting one of the following three measures: income, savings, or home equity. Then, choose one or two demographic categories, such as age, education level, gender, marital status or race/ethnicity. If you want to look into the future, examine how these trends are expected to change over time by comparing 2013 data and 2030 inflation-adjusted projections. To learn how to further explore this data, a short video clip accompanies the interactive tool.
Based on the Foundation’s earlier analysis of Medicare beneficiaries’ income and assets, this tool provides context for ongoing policy discussions about Medicare spending and the federal budget.