TITLE

Will Retirement Be Spent in Financial Sick Bed ? . .

PUB. DATE
July 2004
SOURCE
Journal of Financial Planning;Jul2004, Vol. 17 Issue 7, p21
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article focuses on the alleged possibility that increasing medical costs in the U.S. may shrink retirees' savings, as of July 2004. The Employee Benefits Research Institute said that medical costs for retirees is actually five times what those approaching retirement think they will be, and that the institute estimates that a retiree will spend out of pocket for healthcare anywhere from $80,000 to $700,000. Also, couples retiring at age 65, with no access to employer-sponsored health insurance, will spend $175,000 for medical care, not including long-term care, according to Fidelity Investments. Meanwhile, the impact of such costs will be exacerbated by the fact that only 18 percent of employers with 200 or more workers offer retiree health plans, versus 66 percent in 1988, according to the Kaiser Family Foundation. On the other hand, Kaiser also said that another 20 percent of employers plan to drop their health plans for retirees.
ACCESSION #
13700579

 

Related Articles

  • Battle-tested experience helps plans reorganize pharmacy benefit. Edlin, Mari // Managed Healthcare Executive;Feb2005, Vol. 15 Issue 2, p34 

    This article reports that a 19% to 23% annual drug cost trend during the past three years was a wake-up call for Virginia Premier Health Plan, a Medicaid HMO in Richmond, Virginia. Relying on the services of the same pharmacy benefits manager (PBM) since the plan's inception in 1995, Virginia...

  • Health care spending growth eases, but nears $2 trillion; hospital spending rises 8.6%.  // H&HN: Hospitals & Health Networks;Feb2006, Vol. 80 Issue 2, p74 

    The article assesses the trends in health care spending in the U.S. since 2000. A significant decline in prescription drug spending growth helped slow the pace of U.S. health spending to its lowest level in four years, the federal government reported in January 2006. Despite the encouraging...

  • Rising costs among most critical issues. Morrison, Patrick // Indianapolis Business Journal;8/5/2002, Vol. 23 Issue 21, p31 

    Deals with the challenges for the health care industry in the U.S. as of August 2002. Rise in medical costs; Shortage of medical personnel; Action taken by some hospital executives to mitigate the impact of the shortage of personnel; Problem associated with providing health care to those who...

  • Senators and hospital groups express support initiative promoting GPO transparency.  // Healthcare Purchasing News;Aug2005, Vol. 29 Issue 8, p6 

    Reports on the support of U.S. Senators for initiative promoting healthcare group purchasing organizations transparency in the country in August 2005. Overview of the content of the Healthcare Group Purchasing Industry Initiative; Role of the organizations in controlling health care spending...

  • Time to Embrace Public health Approaches to National and Global Challenges. Walker, Deborah Klein // American Journal of Public Health;Nov2008, Vol. 98 Issue 11, p1934 

    The article presents the author's comments on the challenges facing public health programs in the U.S. on local, national and global levels. The author suggests that with a change in the country's administration the focus should be on developing a political will to improve the public health...

  • Health Care Spending: An Analytical Forum. Altman, Stuart H.; Tompkins, Christopher P.; Eilat, Efrat; Glavin, Mitchell P.V.; Pauly, Mark V.; Aaron, Henry J. // Health Affairs;Jan/Feb2003, Vol. 22 Issue 1, p12 

    Presents a forum on the advantages of increasing health care spending in the U.S. Accounts on the managed care and payment policies imposed by government spending programs; Impact of economic development on health care spending; Factors contributing to the increase of health care cost.

  • Axa PPP Healthcare launches comprehensive workplace healthcare solution.  // Corporate Adviser (Online Edition);10/ 9/2012, p2 

    The article reports that a workplace health solution has been launched by Axa PPP Healthcare Ltd. that focuses on prevention, guidance, fast access to care and return to work services. The Healthcare Pathway controls costs by working only with selected healthcare providers. This service also...

  • The High Cost of Getting Old.  // Minnesota Medicine;Feb2007, Vol. 90 Issue 2, p9 

    The article reports on an increase in the average annual cost of health care for older people in Minnesota in 2005. It is to be noted that the average annual cost of health care for people in their 70s or 80s ranged from $11,679 to $14,709. It is four to five times that of a 20-something. The...

  • Healthcare isn't a Chevy. Sloane, Todd // Modern Healthcare;2/27/2006, Vol. 36 Issue 9, p18 

    The article comments on the healthcare price transparency drive of the administration of U.S. President George W. Bush. It stresses that the administration's refrain about transparency is connected with the government's tax cut for health savings. It cites the reasons why transparency is not...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics