The Inflation rate, as felt by seniors, is greater than that of the population at large. Why?
Healthcare! Mark Miller writes: “Healthcare accounts for 13% of expenditures by Americans over age 65,compared with 5% for all other age groups, according to the Center for Retirement Research at Boston College.”
While monthly premiums haven’t changed over the last few years, predictions are that they will rise anywhere from 1.5% – 6% over the next 10 years. Of course, the experts disagree over what these increases will be. J.P. Morgan Asset Management advises that the average payment for Part B, Part D, Medigap supplemental coverage, out-of-pocket expenses, vision and dental services will rise at an annual rate of 6.1% over the next 20 years. making this cost rise from a current average of $4,400 to $17,000. It should be noted that there is, included in this forecast, a hefty “bump for uncertainties”.
Read more at http://tinyurl.com/mx5b6yy
Speak Your Mind
You must be logged in to post a comment.