Looks Like Retirees Are Finally Seeing Some Financial Relief

The prices of groceries are still high, but it looks like healthcare costs have stabilized — at least for seniors. An article by Yahoo! Finance shared the findings of a survey conducted by Fidelity showing the estimated costs of healthcare during retirement remained unchanged from last year. Its 2023 Retiree Health Care Cost Estimate, which tracks retiree healthcare expenses annually, found that the after-tax cost for medical expenses throughout retirement for a single, 65-year-old retiree remained at $157,500. You can thank changes to Medicare for helping stabilize healthcare costs.

This was the first time in 10 years that medical costs have not risen year over year. For the sake of all retirees, let’s hope this trend continues.

The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate $200 per month (average) benefits increase, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits.