Wednesday, June 04, 2008

Health Costs After 65: Ouch, Even With Medicare

I talk to baby boomers in their late 50s and 60s all the time about medicare. They really don't have a clue about the program often assuming medicare has them covered.

I learned with my mother who is now 91 that theout of pocket costs just go up and up as you age and as benefits from Medicare decline. My mother who has lived a very healthy life now suffers from Alzheimer's. Prior to the onset of the disease she had never had a major illness or operation in her entire life.

Boomers will be shocked to learn what the term "donut hole " means.

Follow the clip link to read this very informative article.
clipped from

These days, there's one milestone birthday plenty of people look forward to: the one when they become eligible for Medicare and can leave all their healthcare worries behind. That's the hope, anyway. But the reality is that turning 65 takes care of only a little more than half of subsequent medical expenses. Now a new study from the Employee Benefit Research Institute shows that a couple without employer-sponsored retiree coverage can expect to need anywhere from $194,000 to $635,000 to cover healthcare premiums and out-of-pocket costs during retirement.

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