Health care is in the range of 17% to 18% of the US GDP.That would be almost a 25% jump in my budget. I'm only planning on spending $48,000 a year in total including taxes. And that isn't even guaranteed it could be less.Personally, I would budget somewhere between $1000 - $1200 per month.
I don't know anyone who has or ever had paid $12,000 a year in medical costs. If something tragic happens they simply don't pay or go through charity. In my life I've only paid medical costs two times in 40 years (the out of pocket max was nowhere near that)
One would then expect on average that a retiree would spend
on the order of 1/6th of their gross income on health care.
Glasses, hearing aids, dentures and copays for medicine , as well as long term care will be in top of the $12K+ figure that I provided before. In total , we may be close to 1/6 of gross income for health/dental/vision care when these other costs are included.
https://usafacts.org/data/topics/people ... as-of-gdp/
Statistics: Posted by MathWizard — Mon Apr 29, 2024 11:32 pm
