Health Care

Planning for Retirement Health Care Costs

Couple Planning for Health Care Costs

Health care costs are a significant concern for people of all ages, but with proper preparation, planning for health care costs doesn't have to be overwhelming.

74% would find advice on saving to fund health care expenses in retirement useful

Source: T. Rowe Price Retirement Savings and Spending (2018)

Breakdown of Retirement Expenses

Housing, Food, Health Care, Other

Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey, 2018, Table 1300. Age of reference person: Average annual expenditures and characteristics.

Fixed and Variable Health Care Costs

Source: T. Rowe Price estimates based on projected 2020 Medicare premiums and data from the Health and Retirement Study (HRS). Health and Retirement Study, (HRS) public use dataset. Produced and distributed by the University of Michigan with funding from the National Institute on Aging (grant number NIA U01AG009740). Ann Arbor, MI. Premium percentage of total health care expenses includes the median percentage share of individual health insurance premiums (ages 65 and above) for Medicare Parts A, B, and D.

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Important Information

This material is provided for general and educational purposes only, and not intended to provide legal, tax or investment advice. This material does not provide recommendations concerning investments, investment strategies or account types; and not intended to suggest any particular investment action is appropriate for you. Please consider your own circumstances before making an investment decision.

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