Health Care Survey Results

Nationwide Survey: Health Care Costs Top Retirement Worry, But Few Planning How to Pay Them

American workers are “terrified” of health care costs in retirement, but few are doing anything about how they’ll pay them, according to the 4th Annual Nationwide Retirement Institute Health Care Costs in Retirement Survey.

John Carter, president and chief operating officer of Retirement Plans for Nationwide, said the Harris Poll of nearly 1,300 U.S. adults age 50 and older, found that 69% of affluent pre-retirees list soaring retirement health care costs as their #1 fear.

Some 59% are afraid they’ll become a burden to their families as they get older. Yet, 52% haven’t discussed the concerns with their spouse, children or financial advisor.

Carter said too many people think that if they ignore the issue, it will go away. But Americans are living longer and need to prepare for how they will pay health care and other retirement costs. Discussing the issue is the first step.

It’s Time to Talk About It

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Health care costs are a family issue

Other survey findings:

What you can do

Plan for how you’ll address health care costs in retirement by first meeting with a financial advisor.

Your advisor can help you prepare a Nationwide Personalized Health Care Cost Assessment to estimate your future health care and long-term care costs.

Using personal health and lifestyle information, health risk analysis, health care costs and medical coverage, the customized projection can help you plan how you may pay for health care and medical costs in your retirement.

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