While healthy retirees' immediate health care costs may be lower than their unhealthy counterparts, their extended life times will increase total costs. These are the findings of a recent report from the Center for Retirement Research.
The Center used data from the Health and Retirement Study to create a simulated lifetime health and health care cost history for households at age 65. Socioeconomic status, gender and insurance coverage were considered in the simulation.
The report found that a couple turning 65 in 2009 can expect to spend $220,000 on health care if one or both spouses suffer a chronic illness. Furthermore, 5 percent of couples can expect to spend over $465,000. Yet, healthy couples can spend between $260,000 and $570,000.
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