With many Americans living into their 90s1, retirement can last 30 years or more. If you’re worried about the impact healthcare costs may have on your retirement income, you’re not alone—and you’re right to want to prepare.
Over the last 10 years, healthcare costs have outpaced inflation costs by more than 14%. And this trend shows no sign of stopping.
In fact, three of the top five most surprising retirement expenses are healthcare related—major dental, out-of-pocket medical or prescription costs, and illness or disability.2
Healthcare costs rising faster than inflation
How TIAA can help
Brush up on other healthcare considerations in retirement.
1 Retirement Income Reference Book, LIMRA Secure Retirement Institute, 2015
2 Society of Actuaries 2015 Risks and Process of Retirement Survey, Figure 65: Shocks Experienced During Retirement
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