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Projected Healthcare Costs at Age 65 (Lifetime)
Estimated healthcare spending for retirees based on different insurance models.
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$10,000 a Month for Long-Term Care Is Becoming the Norm for Families
Long-term care costs are rising fast, and coverage often falls short. But there are smart steps families can take now to better prepare for what's ahead.
Health Care Costs in Retirement: What To Expect, How To Plan
According to Milliman’s 2025 Retiree Health Cost Index, a healthy 65-year-old woman retiring can expect to spend approximately $313,000 on healthcare over her lifetime. A 65-year-old man can expect to spend about $275,000. Those figures assume Original Medicare, Medicare Part D for prescription coverage, and a Medigap Plan G supplement (a common coverage combination for more predictable out-of-pocket costs). They also do not include long-term care, which can add up to six figures. Most retirement plans were not built to absorb a bill that size. That is not a scare statistic; it is a design flaw. Many retirement plans are optimized for accumulation (how much you save) rather than income durability (how reliably your money arrives each month regardless of markets or medical events). For healthcare costs specifically, that difference matters more than it does for almost any other retirement expense. This guide explains what retirees actually spend on healthcare, why healthcare costs combined with market risk can damage retirement plans, and the structural options, including annuities with long-term care riders and Medicaid-compliant annuities, that can help protect retirement income. How Much Does Health Care Cost in Retirement? Milliman’s 2025 projections show just how expensive retirement healthcare can become. Estimated Lifetime Retirement Health Care Costs at Age 65 Coverage TypeMaleFemaleOriginal Medicare + Medigap + Medicare Part D$275,000$313,000Medicare Advantage + Medicare Part D$128,000$148,000Source: 2025 Milliman Retiree Health Cost Index The Medicare Advantage numbers are significantly lower, but that does not necessarily make Medicare Advantage the better fit. Original Medicare paired with Medigap generally offers more predictable out-of-pocket costs and broader provider access, while Medicare Advantage often involves narrower provider networks and more variable cost-sharing. Either way, healthcare is one of the largest retirement expenses most households will face. Is An Annuity Right For You?Answer a few simple questions to discover if an annuity is the right financial choice for you. Why Healthcare Is the Risk That Breaks Retirement Plans Retirement risk rarely arrives one problem at a time. It usually shows up as two or three problems happening at once. Unfortunately, healthcare is where that combination can do the most damage. Imagine a retiree drawing income from a $1 million portfolio at age 70. Markets decline by 25% in a di...
The Dementia Industry: Is There More Profit in Managing Patients Than ...
A provocative look at whether the dementia industry profits more from long-term care than finding a cure, and what that means for patients, caregivers, and innovation.
Long-Term Care Facilities: Types and Costs - U.S. News
Comparing senior living? Explore the 10 types of long-term care facilities, from assisted living to memory care. See average monthly costs and "best for" guides.
