Majority of Affluent Americans Say Health Care Costs Is Top Retirement Fear

Majority of Affluent Americans Say Health Care Costs Is Top Retirement Fear

Three out of four affluent older Americans say out-of-control health care costs is one of their top fears in retirement, finds a Nationwide Retirement Institute study. At the same time, more than half of them are unsure of what their annual health care or long-term costs in retirement will be.

To make matters worse, the survey found affluent elderly Americans are not prepared for health care costs, with 27 percent saying they couldn’t cover more than $1,000 in unexpected expenses and 44 percent couldn’t cover more than $4,000.

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