Health care cost in retirement
Medicare costs in retirement:
Most people don't pay a premium for Medicare Part A, which covers hospital visits. But you will pay monthly premiums for Part B (doctor services and outpatient care), Part D (prescription drugs), and supplemental coverage which may pick up the cost for deductibles, co-pays and medications. These could be taken straight out of your Social Security check.
The premium for Part B is tied to inflation. Most people paid $105 a month in 2015 -- and it isn't going up at all in 2016. You might have to pay more if you don't get Social Security because you receive a government pension, or if your annual income is more than $85,000.
The premiums for Part D and supplemental insurance are set by your provider and vary by plan and by where you live. You can expect these to take up a big chunk of your expenses and are big drivers of rising health care costs.
Courtesy of CNN Money