Despite the hefty price tag, there's a piece of good news about retirees' health-care costs: They aren't rising as quickly as they were even a few years ago.
Nevertheless, because Medicare is the primary insurer for the 65-and-older crowd, various factors have led to slower increases in older Americans' health-care costs versus those of the general population. "It does appear that Medicare is managing the increases a little better than the rest of the health-care system," said Hope Manion, senior vice president for Fidelity Workplace Consulting.
The biggest unknown variable for retirees is long-term care, which includes help with daily living activities such as eating and dressing.If you turned 70½ last year, don't miss this key deadline"We recommend that folks think about their family history, look at their relative's health and their own health," Manion said."It could be a significant cost for some but not for others, and it's hard to predict.
It's also wise for pre-retirees to consider putting money in a health savings account. The money contributed is tax-deductible, and both the earnings and withdrawals — as long as they're for health-care expenses — are also not taxed. In other words, you get a triple tax benefit.
If only we had a NiceGovernment run healthcare plan expenses would be much cheaper.... Oh wait! We already have them 👉 Medicare Medicaid Obamacare
Most of this cost is long term care costs. No way govt can cover these huge costs unless your estate is worth very little, then Medicaid covers it. Some get around that, but not sure how. Probably put estate in children’s names maybe.
But Dems want illegals to get free schooling and free healthcare. Great job Dems.
But I was told the Affordable Care Act made everything affordable.
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