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Key Takeaways
Healthcare costs have skyrocketed over recent years.
The survey results were published in September.
So its been a notable shifting of costs onto patients and families over that time period.
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For the poll, researchers surveyed 2,023 people aged 50 to 80.
Tax-advantaged accounts can help people save for future medical expenses and cushion the financial blow.
Although tax-advantaged accounts exist, they are used least by those who need them the most, Kullgren says.
For FSAs, Kullgren says that people can put aside their tax-free dollars for out-of-pocket healthcare expenses.
However, if the money is not utilized, it is forfeited at the end of the year.
Its kind of use it or lose it," Kullgren says.
“That can be a challenge with those accounts.
Unlike FSAs, HSAs roll over from year to year.
Similar to HSAs, HRAs may be rolled over.
For example, only folks with high deductible plans qualify for health savings accounts.
This could be expanded to include more groups.
Center for Medicare & Medicaid Services.National Health Expenditure Data.
National Poll On Healthy Aging University of Michigan.Saving for Future Health Care Expenses.
