Ebri Health Care Costs in Retirement

average health care costs for retirees

Have you taken the time to plan for unforeseen ebri health care costs in retirement that could threaten to derail your whole budget? If not, you should. Studies have shown that of the 10,000 Baby Boomers that enter retirement daily and will continue to do so for the next 19 years, only 8 percent of them have factored in health care into their retirement plan. When you consider that health care, on average, will costs a retired couple $220,000 (not including any long-term care) this can be a bit frightening. In particular, it can be disturbing to over half of the retirement community that has no assets upon entering retirement or any other source of income, and who plan to live purely on Social Security. A number that large coupled with an unexpected ebri health care cost in retirement could spell certain disaster for many.

Ebri Health Care Costs In Retirement Could Threaten Your Retirement Peace

When it comes to ebri health care costs, in retirement, particularly, there really is no way to sugar coat it – such expenses can be disastrous. Have you thought about unanticipated health care misfortunes that may come about to decimate your retirement? According to studies that suggest a mere 8 percent of retirees have even considered health care costs at all, it may be safe to assume that it may not have crossed your mind. If by chance though it has, odds are you are probably thinking such detriment will never happen to you. And if by chance you have thought about ebri health care costs in retirement and even taken steps to plan for such expenses are you certain that you have budgeted enough? According to the AARP it turns out that a large majority of the minority of retirees that actually factored in health care costs into their retirement plan, underestimated the costs – by a long shot.

MOOP – The Most Ebri Of Health Care Costs In Retirement

Researchers with the AARP studying the effects of economic inflation and legislation on health care costs for individuals in retirement, refer to the amount of futures that will not be covered by insurance or other benefits MOOP – Medical Out-Of-Pocket expenses. The name MOOP may seem cuddly and cute, but the impact of it is anything but pleasant. These unnerving health care costs in retirement have the capability of putting an end to all that you may have thought was glorious in your golden years. Unforeseen expenses of this nature can be disastrously expensive for retirees, regardless of whether or not they have assets in retirement.

According to the AARP a middle-income worker at the age of 70 can expect to pay an annual MOOP of $11,000 or what equates to 19.7 percent of their retirement income. Despite what the government calls a modest rise in national income, today’s middle-income working class are less likely to have saved up the retirement nest egg that the generation before had. This can be blamed on increased taxes and steady increases in mandatory health care expenses.

Contact Jester Financial for More Information on Ebri Health Care Costs in Retirement

Contact us today for more information on how we can help you make the most out of your retirement. We are experts in unlocking where health care costs in retirement are headed.