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For many older Americans, Medicare can be a lifeline. But a new study finds that more than one fourth of Medicare recipients still spend a significant portion of their income on health care.

The study by The Commonwealth Fund found that 27 percent of Medicaid recipients pay 20 percent or more of their income on medical costs, including monthly premiums. On average, recipients spend $3,024 on medical costs every year.

“Medicare is a critical lifeline for older Americans, whose health needs tend to increase as they age,” said Commonwealth Fund President Dr. David Blumenthal. “With one-fifth of the U.S. population projected to be enrolled in Medicare by 2024, it is vital for Medicare to keep evolving to make health care for seniors more accessible and affordable.”

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