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Press Release 06-14-2017

Retirement Health Care Costs Continue to Rise: Financial Choices and Health Condition Management Are Key To Planning for Future Expenses, Reducing Costs, and Living LongerHealthView Services’ 2017 Retirement Health Care Costs Data Report Reveals: Projected benchmark health care expenses for retirees Percentage of Social Security benefits required to cover health care Lifetime retirement health care costs higher for women Average annual out-of-pocket savings from managing type 2...

2017 Retirement Health Care Costs Data Report

SECTION 1: INTRODUCTION   HealthView Services’ 2017 Retirement Health Care Costs Data Report shows retiree health care expenses will rise at an average annual rate of 5.47% for the foreseeable future – almost triple the U.S. inflation rate from 2012-2016 (1.9%)1 and more than double annual projected Social Security cost-of-living adjustments (COLAs –2.6%). As this Report details, the compounding impact of health care inflation means that health care costs will be one of the...
Doctor Medical Medicine Health 42273

Understanding Basic Medicare

Understanding Basic Medicare: Parts A, B, D, and Supplemental Insurance Medicare enrollment and coverage can be confusing, and many Americans still mistakenly believe that Medicare will cover all or most of health care costs in retirement. The truth is original Medicare (Parts A and B) will only cover approximately 20 percent of total costs.   In truth, retirees become responsible for 100% of the costs for comparable coverage (Medicare Parts B, D, and supplemental insurance) that they...
Data

Using Data to Make a Difference

Traditional health care plans failed to incorporate variables such as longevity, health care costs, and long-term care into retirement plans; however, the financial industry is evolving, and many firms are now utilizing these data points to create a more holistic approach to planning.   With just a few client inputs, you can create personalized reports that provide life expectancy, lifetime health care costs (Medicare Parts A and B, Medicare Part D, supplementary insurance, dental,...
Piggybank

Why Plan for Retirement Health Care Costs?

Because millions are entering the Medicare system every year, retirees are going to have to pay more money for fewer benefits and purchase supplemental coverage to fill in the gaps.  Financial and health-related stability in retirement, a luxury enjoyed by most Americans since the passing of Medicare in 1965, will be replaced by the need for all citizens to place health care costs at the forefront of their retirement planning. Why Health Care is a Primary Retirement Concern  Most people...
Cards

Texas Hold’em

A few weeks ago, my neighbor, Dan, invited me to a Texas Hold‘em fundraiser at his temple. Normally, gambling isn’t my thing; in fact, the only card game I play now is Uno with my daughter, Taylor. “I’m not sure,” I said.  “I’m not much of a gambler.” “Come on.  It’s for charity,” he coaxed, “and the buy-in is only $25.” “OK,” I said, “but I have to leave by nine o’clock.” “No problem,” he laughed.  “You’ll probably be out of money by...
Landscape2

The Changing Retirement Landscape

For many Americans, affording retirement will be a challenge.  Earlier generations of workers could rely on employer-sponsored pensions, generous Social Security cost of living adjustments, (COLAs) and supplemental health care plans to provide long-term financial support. Unfortunately, many current and future retirees have no such parachute, and here are some of the challenges they will face. Despite what many Americans think, Medicare is not free. There are premiums, coverage gaps,...
Knowledge

Introduction to Building Retirement Knowledge

Dear Advisor, As a seasoned financial professional, you are probably comfortable engaging clients in discussions about retirement investments and savings; however, when conversations turn to Medicare, Social Security and long-term care, you probably wish you had simple solutions to address these complex programs.  What’s worse, when clients ask specific questions about topics like Medigap policies, Social Security filing age, or Medicare means testing, you may feel unprepared to provide...
Small

Rose-Tinted Glasses

While Ron’s View is generally written to appeal to financial professionals, this Update is focused on consumers and their protection. For this week’s Update, All names have been changed. I recently had lunch with a friend who informed me that he had lost $100,000 in a local investment scam. I found this shocking because Larry is a very successful entrepreneur who has been around the block more than once. Another friend, Sebastian, chose an advisor who was well known in the...
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The Real Cost of Health Care in Retirement:  Barron’s

For its February 4th feature article, The Real Cost of Healthcare in Retirement Barron’s spoke to a number of experts about retirement health care and asked HealthView Services to provide customized data to illustrate the challenges facing future retirees. In the introduction to the article, Senior Editor, Reshma Kapedia, came up with a great way to frame the issue: “Understanding Medicare is like learning about the birds and the bees: Until they experience it themselves, most people...
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