Most elderly people are in reasonably good health, but aging can take a toll on finances because __________.

Question

Quizplus · Accepted Answer

Elderly people often face higher medical expenses, which can significantly impact their finances. Their medical expenses are typically higher than those of middle-aged adults, reflecting the increased healthcare needs that can come with aging. Options B, C, and D are incorrect because they misrepresent how Social Security and Medicare work. Social Security benefits are not contingent upon Medicare use, Social Security benefits do not require monthly premiums (though Medicare does have premiums for certain parts), and health insurance, including Medicare, is available to individuals over the age of 60.

Most Elderly People Are in Reasonably Good Health, but Aging