Health Care Expenses Shaking Retirees’ Confidence

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The Employee Benefit Research Institute’s 28th annual Retirement Confidence Survey found that more than four in 10 retirees say their health care expenses in retirement are higher than they expected, and one-quarter say long-term care costs have been higher. The survey also found that being healthy increases retirement confidence: 46% of retirees who are confident are in good health, compared to 14% who are not confident. This holds true for employees as well: six in 10 employees who are in good health are confident, compared to 28% of those not confident. Seven in 10 employed workers and six in 10 employed retirees say workplace education on health care planning for retirement would be helpful.

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