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Expand chart
Reproduced from Kaiser Family Foundation; Note: Costs do not include premiums; Chart: Axios Visuals

More than half of Medicare beneficiaries with a serious illness have struggled to afford a medical bill, and some beneficiaries with chronic conditions pay an astronomical amount out of pocket for their care, two new studies find.

Why it matters: Medicare is supposed to be a safety net for America's seniors, but its lack of a cap on what beneficiaries pay out-of-pocket — and the fact that it doesn't cover some benefits — leads to many seniors falling through the cracks.

Driving the news: A new survey published yesterday in Health Affairs found that 53% of seriously ill Medicare beneficiaries said they'd experienced financial hardships while trying to get care.

  • Respondents reported having problems paying prescription drug bills most often, followed by hospital bills.

A second brief published by the Kaiser Family Foundation broke down Medicare beneficiaries' out-of-pocket spending, which averaged $5,460 in in 2016, including their premiums.

  • The most expensive service for seniors, by far, was long-term care, which isn't covered by Medicare.
  • Beneficiaries with diseases likely to require long-term care — like Alzheimer's, other kinds of dementia, or Parkinson’s — had the highest spending.
  • Older beneficiaries, women and those in poor health faced higher-than-average costs.

The bottom line: Democrats across the ideological spectrum are leaning into expanding Medicare, but the existing program has plenty of holes.

Go deeper: The looming crisis in long-term care

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.