Wednesday, June 4, 2008

RESEARCH FIRM EXPOSES MYTH OF 'UNIVERSAL HEALTHCARE'

WASHINGTON BUSINESS JOURNAL Current retirees will need tens or even hundreds of thousands of dollars in savings to ensure that they can afford health care after leaving the workplace. That is according to new data from nonpartisan research firm EBRI. . .

For example, a married couple of two 65-year-olds retiring this year would need current savings of $235,000 to have a 90 percent chance of having enough cash to afford their health costs in retirement. That's assuming the couple supplements Medicare with subsidized insurance premiums from a former employer.

Couples who have unsubsidized insurance from an old employer, on the other hand, would need $376,000 in current savings for a 90 percent chance of covering their costs. And a couple with individually purchased insurance to supplement Medicare would need $635,000.

1 Comments:

At June 7, 2008 9:46 AM, Anonymous Life Insurance Canada said...

It's sad. Health insurance should be based on pooling - young healthy people should be paying for the elderly and after years, some other young workers will pay their costs.
On the other hand, I am selling long term care insurance Canada and I can see our system has problems to take care of older people as well. Population is getting older and immigrants can't save everything...
Lorne

 

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