The Impact of Unexpected Medical Costs
The cost of health care and medical insurance continues to rise every year. A serious illness can cause tremendous financial strain for many people, even those with health insurance. A study from the AARP Public Policy Institute found from 1991 to 2007, the rate of personal bankruptcy filings among those ages 65 or older jumped by 150%, and soared to 433% for the age group of 75 to 84.*

Medical and health related expenses are often cited as a cause for bankruptcy, at any age. Careful planning and saving for retirement are critical to help ensure that you have enough assets to help cover the unknown.

*Generations of Struggle, AARP Public Policy Institute, June 2008