New Study Finds High Medicare Satisfaction Among Middle-Income Americans

CHICAGO, Jan. 10, 2012 /PRNewswire/ -- A vast majority (82 percent) of our nation's middle-income Americans on Medicare say that they are extremely or very satisfied with Medicare's access and quality of healthcare, according to a new study conducted by the Bankers Life and Casualty Company Center for a Secure Retirement(SM) (CSR).

The study, Retirement Healthcare for Middle-Income Americans, which focused on 400 pre-Medicare Boomers (age 47 to 64) and 400 older adults (age 65 to 75) with an annual household income of between $25,000 and $75,000, found that only two percent of Americans on Medicare are not satisfied with the access and quality of healthcare Medicare provides.

For pre-Medicare Boomers, the numbers are not as favorable.  Less than half (46 percent) report being extremely or very satisfied with their access and quality of healthcare and one-fourth (24 percent) are dissatisfied.

Whether you're 67 and already on Medicare or 47 and looking forward to retirement, the study found that eight out of ten (87 percent) are concerned about the future of Medicare and 71 percent believe the federal government will cut back Medicare benefits.   

Currently, one in five (22 percent) of middle-income Boomers age 47 to 64 are uninsured in our country and are counting on Medicare to be their healthcare safety net.

With an estimated 10,000 Americans turning age 65 every day and with 85 percent relying on the Medicare system to deliver their health insurance benefits, public opinions on healthcare reform continue to be divided. 

The CSR study cites more than half of middle-income Americans over the age of 47 do not know if healthcare reform will benefit them.  More than one-third (36 percent) say that reform will not benefit someone their age, while only 13 percent believe that reform will be beneficial. 

"Medicare has been providing healthcare benefits to millions of Americans for more than four decades, however, the program now faces its largest test: 78 million Baby Boomers," said Chris Campbell, vice president of strategic marketing and business development for Bankers Life and Casualty Company, a national life and health insurer.  "Middle-Income Boomers can take steps to mitigate healthcare risks now through a combination of good health, quality preventive and medical care, an understanding of the Medicare program, and well-informed financial planning."

Methodology

The Bankers Life and Casualty Company Center for a Secure Retirement's study Retirement Healthcare for Middle-Income Americans was conducted in September 2011 by the independent research firm The Blackstone Group.  The complete report can be viewed at www.CenterForASecureRetirement.com

About the Center for a Secure Retirement

The Bankers Life and Casualty Company Center for a Secure Retirement is the Company's research and consumer education program.  Its studies and consumer awareness campaigns provide insight and practical advice for how everyday Americans can achieve financial security during retirement.

Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on the insurance needs of the retirement market.  The nationwide company, a subsidiary of CNO Financial Group, Inc. (NYSE: CNO), offers a broad portfolio of life and health insurance retirement products designed especially for Boomers and retirees.

SOURCE Bankers Life and Casualty Company