Real Retirees: Paying for health care in retirement

Real Retirees: Paying for health care in retirement


[ Music ] Marianne H.: Medical expenses are definitely a challenge. I planned for a certain amount to have to spend during my retirement and it actually has already increased more than I expected it to, and as a result, we’ll probably have to make some adjustments in our spending or potentially look at withdrawing more from our saving to cover our healthcare. [ Music ] Ann V.: Because I worked for a health plan, I bought and paid for long-term care insurance, which cost me $60 a month, but when I lost a job, I lost the long-term care insurance and started it again at 65. And because I was 65, my premium is now $431.54 a month and that’s because I deem my independence very strongly. I don’t want to rely on my children. I want to live at home and long-term care insurance will allow me to do that. My budget’s changed significantly with the long-term care insurance payment. Mostly that’s what’s been the biggest impact on my savings. [ Music ] Rhonda H.: Healthcare was an issue that we had to discuss because that was one of the obligations I needed to pick up. So when he retired, the insurance– the health insurances fell on my shoulders and I was only working part time. So that pretty much took my whole paycheck. Once I decided to leave work, we really had to look at that issue even more closely. Ron H.: When it comes to healthcare, we were really shocked at the prices that were out there for retired people. [ Music ]

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