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Medical costs consume a big part of Social Security income
It’s sure not a secret to anyone who is already retired, but the cost of medical care is rising disproportionate to Social Security income. On average, medical expenses eat up about a third of Social Security income and about 18% of total household income. This is according to a recent study conducted by The Center for Retirement Research at Boston College. This California Healthline article by Michelle Andrews explains that what Social Security giveth, medical costs taketh away. Click here to read more.
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