Medicaid

More older Americans rely on Medicare and Medicaid

Data: Centers for Medicare & Medicaid Services; Chart: Andrew Witherspoon/Axios

Retirement in America is growing less secure, physically and financially, given the omnipresent threat and cost of serious illness or disease.

Why it matters: Qualifying for Medicare does not guarantee that older adults will skirt potentially ruinous medical bills. Millions of seniors have also come to rely on the taxpayer-funded program for lower income people — Medicaid — and there's no indication that will slow down.

Health insurers are eating higher medical costs

Data: Company filings; Chart: Naema Ahmed/Axios

Almost all of the major health insurance companies are spending more on medical care this year than they have in the past.

The big picture: Rising prices and more services for some sicker patients are among the many reasons why this is happening. That uptick in spending has freaked out Wall Street, even though insurers are still quite profitable.