Experts weigh in on health savings accounts (HSAs) and the need for health care education in the retirement industry.
This is assuming their health is average, according to Milliman.
The Spectrem study found 59% of investors said their adviser understands Social Security benefits, while 47% said their adviser is knowledgeable about Medicare.
Nearly two-thirds of advisers say their clients expect advice on health care costs in retirement, and 34% say their clients would likely leave them if they didn't help them estimate and plan for out of pocket health care costs in retirement.
Updates to the firm’s Social Security and Medicare guides, among other publications, aim to help individuals and employers make the best decisions when it comes to maximizing and coordinating private and government benefits.