Retirees Left To Shoulder More Of Health-Care Costs
ARTICLE ABSTRACT/SUMMARY
With rising health care costs, workers need to plan for higher risks associated with financing their care in retirement. More employers are cutting out health-care benefits for future retirees. Meaning added cost for the retirees. The numbers go higher if you beat your life expectancy or use higher-than-average services. Financial planners say they are seeing retired clients spending $850 to $1,000 a month on Medicare premiums, co-pays and out-of-pocket expenses.
ARTICLE DICUSSION
Employee Benefits research Institute and Fidelity Investments have researched retiree health costs. EBRI pegs the lifetime costs at $295,000 for a couple age 65 today, while Fidelity in at $215,000. The EBRI figure assumes premium payments for insurance coverage beyond Medicare and out-of-pocket expenses. The Fidelity numbers assumes no other coverage and includes co-pays, excluded benefits and prescription costs, among other items. Financial planners are urging all but......
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Approximate Pages: 2 (250 words per double-spaced page)
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