Health Care Costs in Retirement

Health care is one of the largest expenses in retirement, with costs continuing to increase. In 2022, estimated costs rose 5% from 2021 ($300,000) and have nearly doubled from $160,000 in 2002. The problem is, Americans perceptions of cost don’t align with reality. Those surveyed by Fidelity estimated a couple retiring in 2022 would spend just $41,000 on health care throughout retirement.1
Average Health Care & Medical Costs During Retirement

Source: 21st Annual Retiree Health Care Cost Estimate Study, Fidelity Investments. Data assumes both are enrolled in traditional Medicare Parts A, B and D.
Americans will see some relief on Medicare-related costs. Starting in 2025, out-of-pocket costs for prescriptions will be capped at $2,000.2
Work With Your Advisor
At Mariner Wealth Advisors, we’ll work with you on a strategy to fund health care in retirement.
Sources:
1 “Fidelity Releases 2022 Retiree Health Care Cost Estimate.”
2 “How Will the Prescription Drug Provisions Affect Beneficiaries?”
This article is for informational and educational purposes only. The information contained herein has been obtained from sources believed to be reliable, but we do not warrant the accuracy of the information. Please consult with a qualified professional regarding your personal situation.
Mariner Wealth Advisors (“MWA”), is an SEC registered investment adviser with its principal place of business in the State of Kansas. Registration of an investment adviser does not imply a certain level of skill or training. MWA is in compliance with the current notice filing requirements imposed upon registered investment advisers by those states in which MWA maintains clients. MWA may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by MWA with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For additional information about MWA, including fees and services, please contact MWA or refer to the Investment Adviser Public Disclosure website. Please read the disclosure statement carefully before you invest or send money.