Medical bills will eat your Social Security
Here is a stark reminder that Medicare covers only a portion of retiree medical expenses: According to a retirement health-cost index published last week, a couple retiring in 2015 with average Social Security benefits can expect medical costs to consume almost 70% of the Social Security they will receive in retirement. “People don’t realize it, but healthcare is going to be a significant drain on many people’s ability to maintain a reasonable lifestyle,” says Ron Mastrogiovanni, founder and CEO of HealthView Services, Inc., the Danvers, Mass., company that ran the numbers…Read More
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