Many Medicare beneficiaries live on fixed incomes supplemented by the savings they accumulated during their working years. Their income and savings are tied to many life experiences, including their education, health status, marital status, number of work years, household income, access to employer retirement benefits, inheritance, and various economic factors. As a result, the income and assets of Medicare beneficiaries vary greatly. This brief describes the income and assets of Medicare beneficiaries now and in the future and provides context for understanding the extent to which current and future generations of beneficiaries can afford to absorb higher health care costs.
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