Health expenses may have more or less held the line in recent years, but that’s over.
That’s according to a new study that says people saving for retirement will have their work cut out for them in trying to cover such expenses in the future.
The analysis from the Employee Benefit Research Institute (EBRI) found that in 2012, Medicare covered 60 percent of health care expenses for Medicare beneficiaries ages 65 and older, who then had to fork out funds to cover another 13 percent and counted on private insurance to pay another 15 percent.
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