Fast Forward: 2019; the hospital insurance fund is projected to run out of funds. 2041; the Social Security Trust Fund will run dry.
The hospital insurance funds of Medicare (Government health care program) are currently paying out more than it takes in.
It is projected that Medicares payments for doctors and prescription drugs will rise faster than the nations overall economic growth. Therefore, causing beneficiaries premiums, co-payments, and deductibles to rise faster than their incomes!
As a retiree, it is assumed that Medicare (if you are eligible) will cover most of your health care costs. Though, if we are to believe that the Social Security and Medicare systems are in such a state, we best be prepared to bear potentially major health care costs.
It is estimated that a couple, aged 65 years, will spend in excess of $200,000.00 over the next 20 years on health care; even if they are covered by Medicare!
Consider this: if you are aged 65 years (or older), it is highly probable that you may need dental care, eye glasses, hearing aids, regular check-ups; at some stage, possibly even long-term nursing home care. Do you know that apart from...
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