How much of your retirement income are you planning to spend on Health Care?

Posted by on Jun 9, 2016

According to HealthView’s annual report:

The average healthy 65-year-old couple retiring this year is projected to spend $288,400 in today’s dollars on lifetime Medicare Parts B, D and supplemental insurance (Plan F) premiums. When dental, hearing, vision and all other out-of-pocket expenses are included, that couple’s total retirement health care bill rises to $377,412, based on the assumption that men and women have life expectancies of 87 and 89 years, respectively.

Longevity is obviously a major factor in all of this and why we are so focused on having realistic discussions about retirement savings and sources of income. Making good decisions early on can significantly impact your retirement years.