The High Cost of Growing Older
No doubt, healthcare will be one of your biggest expenses in retirement. Qualifying for
Consider this: A typical 65-year-old married couple without chronic conditions will need
Other researchers have come up with similarly large numbers.
These eye-popping numbers are generally a tally of small expenses that add up throughout retirement. Here are the latest estimates of the health expenses most Americans will face.
Insurance premiums are the most predictable retirement health cost. "There's more certainty to paying a premium than there is to paying your own expenses out-of-pocket," says
The amount you will pay for copays and coinsurance for medical treatment in retirement is much more difficult to estimate. Retirees without supplemental insurance must pay 20 percent of the bill (at
Retirees have some common medical needs that are not covered by
None of the above health expense estimates include the savings needed for long-term care.
Future retirees are likely to spend far more of their budget on healthcare expenses than current retirees. For a couple planning to retire at age 65 in 2019, the lifetime healthcare cost estimates jump to
Median out-of-pocket costs for the typical senior are expected to rise from about
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Healthcare - The High Cost of Growing Older | Emily Brandon
(c) 2010 U.S. News & World Report