“Much of the news about health care costs focuses on the assets required to cover health care costs in retirement,” Janet Berry-Johnson writes at Forbes. “HealthView Services 2018 Retirement Healthcare Costs Data Report estimates that a 65-year-old couple in good health will need $363,946 to pay for health-care costs for the remainder of their lives, including Medicare and supplemental insurance premiums and out-of-pocket costs. However, people nearing retirement aren’t the only ones concerned with the cost of health care. A new survey from Nationwide Retirement Institute revealed that people of all ages are concerned about costs right now as well as in the future. According to the survey, 63% of younger adults believe their health today will impact how much they need to save for retirement. Despite these concerns, many young adults avoid important care now in order to avoid the expense. Almost three in four younger adults have taken ‘risky’ actions to save money on medical-related expenses, including: Delaying seeking medical help, hoping the condition will subside (33%) Considering not seeking care to avoid high deductibles (27%) Skipping a scheduled appointment to avoid a medical bill (22%) Taking less than the recommended dosage to extend the length of a prescription (22%) Stopping taking medication because it costs too much (21%) Not following a treatment plan recommended by their doctor (20%).” Janet Berry-Johnson, “Young Adults Take ‘Risky’ Actions To Save On Health Care Costs,” Forbes.
Jeanne Pinder is the founder and CEO of ClearHealthCosts. She worked at The New York Times for almost 25 years as a reporter, editor and human resources executive, then volunteered for a buyout and founded... More by Jeanne Pinder