Ilovebenefits’s Blog

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Health Care Costs During Retirement

Editor’s note: The following, with its link, is a primer on retiree coverage and costs… a good place to start if you want to begin to understand healthcare in retirement. 

 

A common assumption retiring seniors have is that Medicare will cover the majority of their health care costs, and that Medicaid will cover them if they need nursing home care, which isn’t necessarily true. A new analysis by the National Center for Policy Analysis clears up some of the misconceptions about medical costs during retirement.

According to Fidelity Investments, the average senior retiring at age 65 this year will need $240,000 to pay the out-of-pocket costs of health care for the rest of his or her life.

http://www.ncpa.org/pub/ba660

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June 8, 2009 - Posted by | Cost, retirement | , ,

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