Forbes September 22, 2022
A great misconception of aging in America is the belief that Medicare will pay for your health care needs in old age. It won’t.
It will pay for some of those medical costs. But a typical senior can expect to foot the bill for a substantial portion of their health care, even if they are enrolled in Medicare.
Half of retirees spent more than $4,300 for health care in 2018, according to a study by the Center for Retirement Research at Boston College. And high-cost Medicare recipients spent more than $10,000 that year alone. And that doesn’t even include long-term care, which Medicare generally won’t pay for at all and which was excluded from this study.
CRR authors Melissa McInerney,...
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