The $404,000 Healthcare Crisis Facing Social Security Recipients
If you and your spouse turned 65 years old this year, I've got bad news. According to Healthview Services, you're going to spend $404,000 on healthcare over your remaining years, and that spending is going to eat up an increasingly larger share of your Social Security income.
Healthview Services' study finds that healthcare costs will increase by 5.47% annually for "the foreseeable future." If they're right, the cost of healthcare will increase three times faster than the U.S. inflation rate since 2012, and more than twice as fast as future Social Security annual cost-of-living increases.
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Source: Fool.com