One in Five Older Americans Are Cutting Back

Some fresh data released by the Employee Benefit Research Institute that may not come as a huge surprise. Still, that doesn’t make the findings any less disturbing.

A new EBRI report found that one in five Americans age 50 or over report saving on health costs by switching to cheaper generic drugs, getting free samples, stopping pills or reducing dosages. What’s more, nearly as many said they skipped or postponed doctor appointments for the very same reason.

There’s no way to know how that might compare with the state of things five or 10 years ago, since this is the first time EBRI analyzed its data in this way. But the analysis offers further proof that the ability of older Americans to make ends meet these days is showing up in healthcare behaviors.

One in five seems “quite high,” especially when you consider these cuts involve “essentials,” says the study’s author, Sudipto Banerjee.

Suggesting that this is an issue employers can’t afford to overlook as they revisit their plan design and communication strategies later this year.

A full report can be found in the January 2012 EBRI Notes, “Spending Adjustments Made By Older Americans to Save Money,” at www.ebri.org.

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