Retirement isn't workers only worry. As employer wells for retiree health coverage dry up, new research from the Employee Benefit Research Institute (EBRI) shows more than two-thirds of future retirees without employer-based health insurance may need to save up to $1.5 million to fund lifetime medical expenses. Even for retirees with employer-based coverage, the amount needed to pre-fund health costs exceeds $500,000, EBRI finds. Further, the estimates do not include potential long-term nursing home care, which can cost more than $50,000 per year. The figures assume death at age 100 and annual inflation of 14%. "People are living longer. Medical care is getting more expensive, and employers are getting out of the business of providing retiree health benefits," said EBRI President and CEO Dallas Salisbury. "This puts added responsibility on employees to prepare for these major expenses."

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