Retirement Health Care Costs Cited as Top ConcernCategories: OPEB/GASB 45/75
PLANSPONSOR.com by Kevin McGuinness, October 30, 2013
A new study by John Hancock found that employees’ biggest retirement-related concern is the financial risk of rising health care costs. Conducted as a part of the John Hancock Investor Sentiment Index for Signator Investors, Inc., the study found that other retirement-related concerns included changes to Social Security and/or Medicare, and running out of money during retirement. The study also found that the percentage of employees citing these concerns has increased from earlier studies.
According to the study, more than half (55%) of respondents said they were very concerned about rising health care costs in retirement, a seven-point jump from last year’s study. Overall, 89% of this year’s respondents expressed some concern about rising health care costs.