Saving for Health Care Expenses in Retirement Can Be Daunting
Jan 25, 2024, 12:30 PM
Saving for Health Care Expenses in Retirement Can Be Daunting
Super Text :
Full Content Date :
Jan 25, 2024
Full Content Page Count :
4
Volume Number :
493
Health care costs in retirement can be considerable and may not
necessarily be a salient issue for workers. To project how much Medicare
beneficiaries may need to save to have a reasonable chance of meeting
their health care spending requirements in retirement, EBRI built a
simulation model allowing for uncertainty due to mortality and rates of
return on assets in retirement, incorporating recent legislative changes
and testing varying assumptions about Medicare Advantage and Medigap
plans that Medicare beneficiaries may purchase. This Fast Fact presents some of the top conclusions from the analysis of this updated model.
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EBRI Fast Facts
Access Package :
SUB_RETHEALTH
FF.493.SavingsTargets.25Jan24
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EBRI Fast Facts
Saving for Health Care Expenses in Retirement Can Be Daunting
Summary
Health care costs in retirement can be considerable and may not
necessarily be a salient issue for workers. To project how much Medicare
beneficiaries may need to save to have a reasonable chance of meeting
their health care spending requirements in retirement, EBRI built a
simulation model allowing for uncertainty due to mortality and rates of
return on assets in retirement, incorporating recent legislative changes
and testing varying assumptions about Medicare Advantage and Medigap
plans that Medicare beneficiaries may purchase. This Fast Fact presents some of the top conclusions from the analysis of this updated model.
