Latest News
The Medicare Number That Should Shock You the Most
Healthcare is one of the most unpredictable expenses you’ll face after you retire, and Medicare coverage is the primary way that tens of millions of Americans protect themselves from the potential financial catastrophe that an unanticipated illness or injury would otherwise cause. Yet, as important as Medicare is for your long-term financial security in retirement, many retirees don’t appreciate just how great a deal the program is until they see one shockingly large number: the difference between how much they’ve paid in Medicare taxes over the course of their lifetimes and how much they’re likely to save on medical costs as a result of having Medicare coverage for the rest of their lives….To come up with the amount that typical Americans make from their “investment” in Medicare coverage, the Urban Institute took a look at several different hypothetical households. The study included seven common situations, two of which dealt with single retirees, and four of which involved married couples. Read More…