(The source of this information is a research paper recently produced by Vanguard and Mercer Health and Benefits. I found it helpful and hope you do as well.)
There is a great deal of fear swirling around the issue of the expense of health care in general and, particularly, in retirement.
One of the reasons for this is because we read statements like: “It’s going to cost $250,000 or more to cover health care costs in retirement.”
However, we do not talk about the cumulative cost of travel, food or other parts of our retirement budget. Why is that? Because expenses like travel and food are more controllable – more consistent.
Health care, however, is far less predictable. In addition, it gets complicated from the need for Medicare Parts A and B and the never-ending options for supplemental policies and drug coverage.
New products offering protection that leverage your assets are constantly evolving as well.Read More