Download “2022 Retirement Healthcare Costs Data Report Brief”

2022 Retirement Healthcare Costs Data Report Brief

The principal driver of escalating medical expenses is healthcare inflation, which is widely anticipated to increase over the next several years driven by the pandemic and historically high inflation rates. Current data reveals that even if consumer prices were rising at historical average inflation, a significant portion of retirees’ Social Security benefits would be needed to cover healthcare costs. With inflation rising to a 40-year high in 2022, the impact on future expenses will be significant. The 2022 Medicare Part B premium increase of nearly 15% may be a harbinger for future healthcare cost increases.