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A Surprising Reason Your Health Care Costs More in Retirement

October 26, 2019

From the Time Money website

Health care is one of retirees’ biggest expenses, but it’s not just because older people tend to access more medical services. Even if you never visit the doctor, your insurance bill will be higher in retirement than it was when you were working, according to a new analysis.

That’s because retirees pay a bigger share of their premiums under Medicare than they did under their employer’s health insurance. Employers generally subsidize around 75% of their employees’ health insurance premiums, leaving employees responsible for just a quarter of the monthly costs, according to HealthView Services, a Danvers, Mass.-based company that provides health care cost data to financial advisors.

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