Back in March we wrote about the potential long-term care crisis that could plague boomers during their later years.

The story was based on a study by the Center for Retirement Research at Boston College, which found that in over 300,000 simulations the average lifetime health care expenditure for a typical married couple at the age of 65 is $197,000. This figure covers insurance premiums, out-of-pocket costs, and home health costs. With nursing home costs included in the equation, that amount jumps to $260,000, with a 5% risk of exceeding $570,000.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access