Essay On Health Care Cost

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Health Care Cost
The world is become ageing. Healthcare cost increased together with an aging population. Old age is typically brings medical problems and increased healthcare expenses. Healthcare is expensive. Cost of healthcare is one of the biggest expenses in retirement. According to Employee Benefit Research Institute has noted that at 75 year-old, we will likely spend more on healthcare than on food and clothing combined. (C 10) According to the latest retiree health care cost estimate from Fidelity Benefits Consulting, a 65-year-old couple retiring this year will need an average of $220,0001(in today’s dollars) to cover medical expenses throughout retirement.
It is important to provide retirement saving since overall healthcare spending …show more content…

Each individual have greater responsibility for determining their own retirement income. Education is the key to make sure that you are on the right track and to keep yourself from worrying too much. Financial education can improve knowledge base and help future retirees enjoy their retirement years. Financial education is important throughout the life because it will build a savings habit and make it a lifelong responsibility. In addition, with this knowledge it also helps to control your spending.
Retirement savings is one of financial education that particularly important. We need to have general financial knowledge on an understanding of the retirement savings process and need. A lack of financial education may lead to unrealized on the late to start retirement saving. Increased awareness and education could be a great help towards improving spending and saving habits and increasing participation and contribution levels to retirement plans.

“Financial literacy is an issue that should command our attention because many Americans are not adequately organizing finances for their education, healthcare and

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