As mentioned in my prior blog, even Medicare recipients are being impacted by the Affordable Care Act’s (“ACA”) implementation. According to a recent AARP report, Medicare beneficiaries spent on average $3,324 out-of-pocket annually on healthcare in 2010.
With that said, 10% of Medicare recipients spent more than $8,030 on their healthcare in that same year. Considering the drastic difference and the potential savings you may be ignoring, it may be a good time to review your healthcare costs and identify whether there are areas you could cut some of those expenses. Some ideas may be self-evident, such as proactively eating better and exercising. However, there are some other ideas that may not be so self-evident.
To learn more about some other ways to curb your healthcare expenses in your retirement, click here.