Drawing on 530 million medical cases, inflation, actuarial, government and other data, our cost projections provide a comprehensive breakdown of future retirement healthcare expenses.
An average 65-year-old couple will spend over $158,000 (future value) on out-of-pocket prescription drug costs throughout their retirement (age 87, male and age 89, female). When combined with Medicare Part D premiums, their overall spend on prescription drugs will exceed $228,000.
When viewed as a share of overall healthcare spending, more than one-fifth of every healthcare dollar spent in retirement will be for out-of-pocket costs related to prescription drugs. Adding in Part D premiums brings the total to nearly 30%.
For both current and prospective retirees, particularly those managing chronic health conditions that require substantial prescription needs, this legislation will reduce out-of-pocket expenses. As the complete list of drugs is announced over the coming years, the actual impact on prescription spending in retirement will become clearer, and HealthView will provide the most up-to-date data available.