How Much Do Retirees Spend on Out-of-Pocket Health Care? — Oblivious Investor
Karolos Arapakis of the Center for Retirement Research at Boston College recently released a brief (adapted from a longer paper) that addressed the question: how much do retirees pay in lifetime out-of-pocket health costs, excluding premiums and including long-term care?
The finding: 65-year-old households pay, on average, about $67,000 in out-of-pocket costs over their remaining lifetime. At the 90th percentile of such spending, the total is about $138,000. (Note though that these figures do not differentiate by household size.)
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