Retirement and Health Care Costs: What You Need to Know
Every retiree or anyone who is in the process of retiring is concerned about the cost of health care. As reported in T. Rowe Price’s Retirement Savings and Spending Study (2021), retirees’ top three spending concerns are the following — in order of importance: Paying for long-term careThe cost of health insuranceOut-of-pocket health care costsAccording to some of the leading experts, retirement healthcare costs will be astronomical. As of 2022, the Employee Benefit Research Institute (EBRI) estimates that 90% of employees will be able to cover all their health insurance premiums. Using that fi...