This came across my desk at w*rk today - pretty interesting. WSJ
had an article on it yesterday:
Read the report
EBRIís findings: Recurring health-care costs appear to remain stable throughout retirementóand across all age groups. Among the Medicare-eligible population (age 65-plus), the average, annual out-of-pocket expenditure for recurring health-care expenses, according to EBRI, was $1,885.
If we assume a 2% rate of inflation and 3% rate of return on savings, a person with a life expectancy of 90 would need almost $41,000 (to be exact: $40,798) at age 65 to fund his or her recurring health-care expenses through end of live. (Note: That figure doesnít include other recurring expenses like insurance premiums or over-the-counter medications.)
I think $41,000 seems low, but I hope it's right. I'd like to hear what our retirees think.
I apologize if this has been posted, I couldn't find it if it has.