Estimate Healthcare Costs 12 Years From Now?

[MercyMe]

Are there any reliable resources that could help determine healthcare costs in 12 years when my spouse and I join Medicare? My current input for this field in our planning software is $21,000 annually (includes Medicare B, D, supplemental, and OoP).

 

[Ian S]

Are there any reliable resources that could help determine healthcare costs in 12 years when my spouse and I join Medicare? My current input for this field in our planning software is $21,000 annually (includes Medicare B, D, and OoP).

So no supplement?

 

[badatmath]

Are you using standard medicare rates or will you be subject to IRMAA?

 

[aaronc879]

$21K/yr? You must be planning to go to the doctor a lot every year.

 

[MercyMe]

So no supplement?

Yes... my $21k estimate was for all health-related costs including supplemental and other out of pocket expenses for dental, vision, co-pay, etc.

 

[MercyMe]

Are you using standard medicare rates or will you be subject to IRMAA?

I based that number on the median value I found on a KFF article which included IRMAA.

 

[MercyMe]

$21K/yr? You must be planning to go to the doctor a lot every year.

Remember... this is for a couple. Not just an individual.

 

[teej1985]

Yes... my $21k estimate was for all health-related costs including supplemental and other out of pocket expenses for dental, vision, co-pay, etc.

Medicare should cover most medical vision issues- if you mean just buying new glasses or contacts, it may or may not make sense to get some vision insurance.


The only dental insurance that I think makes sense - assuming your dentist is in the Ameritas network that they use - is Physicans Mutual because there is no annual benefit limitation:

https://www.physiciansmutual.com/web/dental