Retirement healthcare cost index in the U.S. 2023-2047

The retirement healthcare cost index compares the estimated cost of healthcare at retirement against expected social security benefits (before taxes) throughout retirement. The retirement healthcare cost index for a healthy 65-year-old- couple retiring in 2023 in the U.S. is estimated to be 44.5 percent in the first year. In the next ten years, it is projected to rise to 64 percent, and by the end of their lives, it is most likely to offset their social security payments.

Forecast retirement healthcare cost index for a healthy 65-year-old couple retiring in the U.S. in 2023

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Release date

October 2022

More information

Region

United States

Survey time period

2023

Supplementary notes

Case Assumptions: Healthcare expenditures are based on national averages and include Medicare Part B and D premiums, Medigap Plan G, and dental insurance, as well as out-of-pocket expenses for hospitalization, doctors, tests, prescriptions, dentistry, vision, and hearing care. IRMAA surcharges are not factored into forecasts because Medicare Part A is believed to be free in retirement. Each couple applies for Social Security benefits at age 65 and 0 months, and they each receive an adjusted benefit for applying before Full Retirement Age (FRA). Social Security benefits are based on the average household income for 2023, according to predictions from the Social Security Administration.

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