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Stock impact report

YOUR MONEY-What is the scariest retirement healthcare number? [Reuters]

Genworth Financial Inc (GNW) 
Last genworth financial inc earnings: 10/29 05:10 pm Check Earnings Report
US:NYSE Investor Relations: genworth.com/corporate/investors.html
Company Research Source: Reuters
What is the scariest retirement healthcare number? NEW YORK (Reuters) - A typical couple could potentially spend $285,000 on out-of-pocket healthcare costs in retirement. But that is hardly the scariest number you need to consider when it comes to medical costs as you age. This estimate, released on Tuesday by Fidelity Workplace Consulting, is based on Medicare premiums for Americans 65 and older, plus the deductibles and co-pays required for medical care and prescription drugs. It also accounts for inflation and investment growth. If you have $1 million in retirement savings and plan to spend a healthy 4 percent of that per year plus Social Security, your monthly healthcare budget would need to account for about $5,000 per year per person. These bulk figures sound large, yet what is not included may be even more worrisome: - Long-term care Since Medicare, the government health plan for those over 65, does not cover long-term care costs, Fidelity’s average spend does not include it ei Show less Read more
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