Retirement Medical Expenses
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Medical Bills And Bankruptcy especially among Older Americans
A widespread belief is that medical bills cause a large number of bankruptcies, especially among older Americans. That belief is based on some studies that have been widely criticized. Here’s a review of a new study that comes to a very different conclusion. The key distinction between the studies is how many bankruptcies had medical […]
The Retirement Advantages of Health Savings Accounts
The HealthSavings Account(HSA) could bethe best retirementplanningvehicle available.Only the Roth IRA comes close. […]
Retirement Medical Costs Keep Rising
The annual retirement health care estimate prepared for Fidelity Investments found that costs keep rising. The estimate for 2017 says that costs are 6% higher than in last year’s estimate. The report estimates lifetime medical expenses for a couple that is 65-years-old today will be $275,000, compared to $260,000 last year. That estimate doesn’t include […]
Technology’s Impact on Health Care Costs in Retirement
In the first edition of The New Rules of Retirement I noted that medical costs were rising because we had treatments that didn’t exist in the past. The treatments cost money. The New York Times backed this up recently with a piece that said technology, not longevity, is what’s causing the rise in health care […]
Will Your Children be Required to Pay for Your Long-Term Care?
The cost of not planning for your long-term care could affect others. Your estate or children might be required to pay for your long-term care. Some little-used laws make this situation possible. Use of these laws increased the last few years, and they are likely to be used more in the future. Either the government or […]
Estimating Retirement Medical Expenses
The ability to handle lifetime medical expenses is the key to a sustainable retirement, according to new studies such as one by the Employee Benefits Research Institute. Yet, medical expenses also are the wild card in retirement finance, because they are the hardest expenses to estimate. To handle the issue successfully, don’t fudge the numbers, […]
Medical Expenses in Retirement
Too many people continue to believe that Medicare will cover all or most of their retirement medical expenses. While Medicare does cover a lot, it isn’t close to covering all your expenses. On average it covers about half of medical expenses. That means for a large number of people it covers much less. The Employee […]
Estimating Retirement Medical Spending
Medical expenses are the wild card in all retirement plans. They are very difficult to estimate and control. Fidelity Investments has been putting out an annual estimate of retirement medical spending for several years. The good news in this year’s estimate is that the total retirement cost estimate is reduced, because medical spending increased at […]
