July 17, 2012

Retiree Health Care Costs

One more reason to plan and invest for your future: 
CHICAGO, July 11 (UPI) -- "Middle-income retirees say healthcare expenses are one of the biggest overall financial surprises they encounter in retirement, a U.S. survey indicates.
The survey, conducted by Bankers Life and Casualty Company Center for a Secure Retirement, asked 300 retirees ages 55-75 with an annual household income between $25,000 and $75,000 what challenged them most in retirement.
Many retirees said their health itself had become a challenge. Some said their health improved since retiring, but 18 percent said they had dealt with unexpected health issues.
Fifty-five percent indicated healthcare was costing them more than anticipated and if given the opportunity to go back in time, many said they would made saving for their healthcare costs a bigger priority.

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