IAQ Brochure English

Income and Assets Summary
In this round of the MCBS, we ask you questions about you and your family’s income and
assets. Many people feel that their financial information is sensitive and want to know why we
ask about it. The fact is there is a strong relationship between health care and personal finances.
Income directly relates to the resources available for a person to purchase medical care. Even
though Medicare covers a large part of medical costs, it does not cover all of them, and medical
care can be a burden on many people’s budgets.
Many Medicare beneficiaries are likely to have a fixed income which may present challenges in
the face of growing health care expenses. Income data collected by the MCBS have allowed the
Centers for Medicare & Medicaid Services (CMS), as well as independent groups such as Kaiser
Family Foundation, to study the unique financial burdens that health care costs place on
Medicare beneficiaries. Participation by you, and other survey participants like you, has allowed
us to estimate that 8% of Medicare beneficiaries with an annual income less than $25,000 do not
have a usual source of care, such as a primary doctor, compared to 5% of Medicare beneficiaries
with an annual income of $25,000 or more.
Usual Source of Care by Income Among Medicare Beneficiaries, 2021
100%
80%
60%
40%
20%
0%

95%

92%

8%

5%

< $25,000
Has a usual source of care

$25,000 +
Does not have a usual source of care

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Frequently Asked Questions
Why are you asking questions about income and assets?
Every four months, we collect information on a number of topics related to health care use and
the associated costs. We ask about the health insurance coverage that you have, about the medical
services you receive, where you get those services, and who provides them. Once a year, we ask
how satisfied you are with the care you receive and about your general health.
To get a complete picture of the effects of health care costs on Medicare enrollees, we also need
to collect information on income and assets. This information can show how health care costs
affect an individual’s as well as our nation’s economic well-being. This information also may
show how financial resources affect the choice and use of health care services.
What will you be asking me about?
To understand how you are doing financially, we will first ask you about your employment and
living situation. We will then ask you some general questions about income and value of your
assets. We will ask if you or your spouse have income from Social Security, pensions, wages,
investments, etc. You can simply answer “yes” or “no.” After answering these questions, we will
ask you to estimate your household income from each source and your total income.
We will also ask about other financial resources you might have such as bonds, retirement
accounts, and checking accounts that pay interest. In addition, we will ask questions about the
value of your home and other assets, experiences with medical debt, and participation in and
awareness of federal assistance programs.
Am I answering these questions for a specific time frame?
Yes, we will ask about your family’s income in the last month and your income in the last
calendar year. The questionnaire will clearly specify which time frame we are asking about. If
you ever are unsure which time frame is being referenced, please ask your interviewer for
clarification.

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Frequently Asked Questions
Is this information private?
The information you provide will be kept private to the extent permitted by law, as prescribed by
the Privacy Act of 1974. The information you give will only be used for research and statistical
purposes.
What are you going to do with this information?
Studies show that there is an association between income and use of health care. The information
you provide on your income and other financial assets will be analyzed with the information you
provide in response to other questions, such as how often you see a doctor. This will allow us to
assess the relationship between personal finances and an individual’s expenses for health care.
The information that you provide about your income and assets will be de-identified and used for
statistical purposes only. In no way will your responses to any answers in this survey, including
the income and assets questions, affect your Medicare benefits.
Isn’t there enough information already available on income and other financial resources?
There is other information available; but, unfortunately, very little of it describes the Medicare
population. There is no information on the impact that income and other financial resources have
on health care, nor does the available material cover the impact of health care use on financial
resources.
Do I need records, such as my income tax records, to respond to these questions?
No, you do not. However, some people find it easier to estimate their income and other financial
records by referring to their records. Also, if another member of your family is more
knowledgeable about some of your financial resources, you may want to have this individual help
with these answers.
continued on the next page

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Frequently Asked Questions
What if I don’t know an answer?
Just estimate the best that you can. If you are unable to estimate an amount you can select a range
you estimate the amount to fall under. If you cannot provide any estimate for a question, just
answer, “I don’t know.”
Do I have to answer these questions?
No, your participation is voluntary. You may refuse to answer any question or series of questions
and still participate in the survey. Your Medicare benefits will not be affected in any way by your
answers to these questions or by your decision to answer or not answer the income and assets
questions.
What should I do if I have more questions?
If you or other members of your family have any additional concerns about these questions,
please use NORC’s toll-free number (1-844-777-2151) or write CMS at the following address:
Mr. William Long
Medicare Current Beneficiary Survey
Centers for Medicare & Medicaid Services
Room B2-29-04
7500 Security Boulevard
Baltimore, Maryland 21244-1850

Thank you for your continued
participation in the MCBS!

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OMB No. 0938-0568
Expires 8/31/2025