The Coming Medicare Cost Problem

The cost of Medicare is challenging for consumers and the Federal government alike. New research just found that consumers covered by Medicare will likely need $200,000 to cover their out-of-pocket costs in their lifetime (see Couples May Need Nearly $400,000 To Cover Out-Of-Pocket Medicare Health Care Costs In Retirement). But that requirement doesn’t square with U.S. demographics. In 2023, the average retiree has $170,726 in savings and 37% of retirees say they have nothing saved for retirement (see State Of Retirement Finances: 2023 Edition). The median net worth of Americans age . . .