About 78% of Americans planning for retirement report concerns about how health care costs will affect them, while only 48% say they have factored those costs into their financial plans, according to a recent survey. Only 16% of respondents said they feel “very knowledgeable” about expected health care costs in retirement.

If costs are higher than expected, many respondents anticipate reducing spending. About 37% said they would cut back on routine expenses, and 34% said they would reduce spending on travel or leisure.

Respondents reported a range of strategies for covering health care costs in retirement, including:

47% plan to . . .

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78% Of Americans Concerned About Health Care Costs In Retirement, But Only 48% Have Planned For Them

About 78% of Americans planning for retirement report concerns about how health care costs will affect them, while only 48% say they have factored those costs into their financial plans, according to a recent survey. Only 16% of respondents said they feel “very knowledgeable” about expected health care costs in retirement.

If costs are higher than expected, many respondents anticipate reducing spending. About 37% said they would cut back on routine expenses, and 34% said they would reduce spending on travel or leisure.

Respondents reported a range of strategies for covering health care costs in retirement, including:

47% plan to . . .

Want To Read More? Log In Or Become A Paid Member
Resource Available For Paid OPEN MINDS Circle Members Only
Not a paid member? Don't miss out! Sign up today and receive unlimited organizational access to all OPEN MINDS strategic advice, market intelligence, and management best practices – over 250,000 resources!
If you are already a paid member, log in to your account to access this resource and more. If you are a free member, you will need to upgrade to a paid membership before accessing this resource.

If you are not yet a paid member, learn more about the OPEN MINDS Circle Market Intelligence Service Membership on our website, reach out to our team at info@openminds.com, or call us at 877-350-6463.

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