What Will Healthcare Cost in Retirement?
Many workers are quick to assume that once they retire, their living costs will automatically go down. But if there's one expense that's practically guaranteed to go up in retirement, it's healthcare. Between out-of-pocket costs associated with Medicare, Part B premiums, and long-term care, countless seniors will spend a huge chunk of their savings and Social Security income paying for their healthcare needs. It's important to read up on the cost of senior healthcare so you can factor it into your retirement planning and avoid getting caught off-guard.
If you're wondering what healthcare will cost the typical retiree today, you may need to prepare for a shock: The latest projections state that the average healthy 65-year-old couple today will spend $400,000 or more on medical care when you account for things such as Medicare premiums, copays and deductibles, and services not covered by Medicare.
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Source: Fool.com
