Cecily O'Connor
Redwoodage.com

When it comes to healthcare, one in five older adults are worried sick about their ability to afford medical coverage in 2009, a new survey says.

“The boomers are at a high risk of being uninsured, and they’re particularly worried," said Cheryl Matheis, senior vice president, which surveyed older Americans. "They’re concerned about losing their job-based coverage or not keeping up with the high premiums of individual coverage. And they don’t have the safety net that Medicare provides for older people.”

About 8 percent of adults over 45 that AARP surveyed said they had no health insurance coverage. Most adults (and, in 9 percent of cases, their spouses) have coverage through their current employer.

Another 20 percent is covered by Medicare, which kicks in once adults reach 65. About 12 percent have individually purchased health insurance, while 10 percent get health benefits from their own or their spouse’s former employer.

What They Can Afford
The situation is exacerbated by increasing needs of 77 million boomers nearing retirement. Adults 65 and older feel their pain, especially as it relates to Medicare.

For example, about 70 percent of those who are enrolled in the Medicare Part D prescription drug program said their current premium was as much as they could afford. That's up from 54 percent in 2007, according to AARP.

However, the study found less than half of people in Part D are even somewhat likely to shop for a new plan during open enrollment — ending December 31 — which could cut down on their out-of-pocket costs next year.

“The vast majority of people in Part D say their drug plan premium is as much as they can afford, but if they don’t act before the New Year, they may miss their best opportunity to lower their costs for the coming year,” Matheis said.

Shop Around
AARP encouraged people in Medicare to re-evaluate their prescription drug plans each year to find a plan with the best value for them.

Outside of insurance, prescriptions also tell an important story about financial challenges resulting from rising healthcare costs and the weakened economy. 

About 15 percent of adults said they had cut back on medications, or not filled a prescription in the past year, because they could not afford it. A separate survey released earlier this month found that women, in particular, are neglecting routine health exams because the cost is too high. 

Overall, such behaviors may increase patients’ risk of developing more significant health problems that require "drastic and costly health care later in life," AARP warned.

Prescription for Change
Not all adults are willing to forego healthy habits, however. Some are making changes to their diet, while others are changing their prescription drug use. Still, more work could be done.

A majority of those surveyed are using their medications "wisely" by having regular assessments of their prescriptions by their doctor. Another 67 percent is asking about generic versions when getting a new prescription, while 62 percent is keeping a personal medication record.

Meanwhile, almost two-thirds of those 55 to 64 are asking their doctor about other ways to reduce their medications — like increased physical activity and dietary changes. But younger boomers, for example, have been less proactive about talking to their doctor.

“There’s an opportunity with these age groups to increase healthy behaviors and possibly reduce their reliance on prescription drugs,” Matheis said.

Additionally, boomers stand to  reduce their health care bills and control spending if they seek out information to compare drug prices. But currently, only about a third do so, according to AARP.