30 Jan Senior Worries

A new report by the Employee Benefit Research Institute (EBRI) finds that a retired couple aged 65 might need $387,000 to cover medical expenses for the remainder of their lives. With Medicare covering only 59 percent of health care costs for seniors, retirees should expect to pay an even larger share in the future because of looming Medicare cutbacks and reductions to employer-sponsored retiree benefits, the EBRI report said.