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How Much Will Health Insurance Cost in Retirement?

How Much Will Health Insurance Cost in Retirement?

It is difficult to forecast how much health care will cost in retirement, but J.P. Morgan research indicates that it’s a few thousand dollars a year.

According to their research, the median amount spent each year on health care by 65 year old’s is $4,660. For those age 85 and older, the average amount spent each year is $18,030. At age 65, you can get covered by Medicare, but there are separate costs there, as well as in the optional Medigap policy.

Essentially, medical care is very costly and it will benefit all investors to start saving money early and often.

How Can I Keep My Health Costs Down in Retirement?
Where do I Get Started in Saving for Retirement?
What Role Does Inflation Play in my Retirement Planning?
How Do I Allocate My Assets in Retirement?

Keywords: Medigap, health insurance,