Health Care Costs in Retirement

Study Reveals How Retirees View Costs and Medicare

The rising cost of health care is one of the most serious and complex issues facing society. It's often the fourth greatest expense in retirement, but for many people it can be the second-largest expense in retirement next to housing.1 But many people remain unprepared or uncertain how they’ll deal with health care in retirement.

A survey conducted by Harris Interactive in 20122 showed:

Reality could be much different according to a 2015 study that estimates out-of-pocket health care expense for a 65-year-old couple retiring today and living for 20 years will range from $259,000-$392,000.4 That could mean as much as $9,800 a year per person in out-of-pocket health care expenses.

Taking care of yourself and planning how to address future health care expenses are smart strategies.

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