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New Research From EBRI: Estimates Show More Precise Retiree Health Savings Needs
Date:6/3/2008

e subsidized by a former employer (see figure below). The savings needed are:

Man: A man would need $64,000 in current savings to have a 50 percent chance of having enough money to cover health care expenses in retirement, or $122,000 in current savings for a 90 percent chance of having enough to cover retiree health costs.

Woman: A woman would need current savings of $86,000 to have a 50 percent chance of having enough money for retiree health expenses, or $140,000 to have a 90 percent chance of having enough to cover retiree health costs. The numbers are higher for women because of their greater longevity.

Married couple: A married couple would need current savings of $154,000 to have a 50 percent chance of having enough money for retirement health costs, or $235,000 for a 90 percent chance.

Savings Needed for Employment-Based

Health Premiums, Medicare Part B

Premiums, and Out-of-Pocket

Costs for Retirement at

Age 65 in 2008

Employer No Employer

Subsidizes Subsidy of

Premiums Premiums

----------------------------

Men

Median $64,000 $102,000

75th Percentile 96,000 154,000

90th Percentile 122,000 196,000

Women

Median 86,000 137,000

75th Percentile 112,000 179,000

90th Percentile 140,000 224,000

Married Couple

Median 154,000 246,000

75th Percentile 198,000 317,000

90th Percentile 235,000 376,000

-----------------------------------------------

Source: Authors' simulations based on assumptions

described in the text.

(additional data, including on needed savings by 55-year-old retiring 10 years

from now, are available
'/>"/>

SOURCE Employee Benefit Research Institute
Copyright©2008 PR Newswire.
All rights reserved

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