US Economy

Rising healthcare costs are a major concern for older Americans, and it's affecting their finances and political priorities. Open enrollment for Medicare began in October, with changes in costs and coverage. Prescription drug prices remain high and that's forcing some people to ration medications. Long-term care costs have also increased significantly. Social Security's future is uncertain, with potential benefit reductions by 2034 if funding issues aren't addressed. One 83-year-old retiree from Ohio says she faces financial strain due to medical expenses despite her careful retirement planning. Barbara Weigand recently withdrew $4,000 from her retirement account to cover cancer treatment costs.