Retirees and Future Health Care Costs

Most Retirees Are Confident About Paying Future Health Care Costs

Despite the rising costs of health care and the hits many retirement accounts took from the recession, a Nationwide Financial survey1 reveals 9 in 10 retirees with at least $250,000 in household assets are not concerned about paying for their future health care costs.

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Retirees and baby boomers have differing opinions, according to the survey conducted by Harris Interactive1 in January 2012:

Read the complete survey.

One of the reasons retirees are confident in their ability to pay for health care costs may be that they are already doing it successfully. Also, many current retirees have pensions and employer-paid health care − a luxury most boomers nearing retirement may not have.

Also, baby boomers are facing numerous concerns as they approach retirement, including:

Retirees need guidance

Almost 40% of retirees want to understand Medicare coverage better, but few consider talking with their financial advisor about ways to handle health care costs in retirement.

There are many ways an advisor can help:

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