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Medical Expenses for Those Over Age 65

June 2017

Health care costs are a major issue to both policymakers and individuals. As policy makers consider reforms to the health care system, it is important to understand the medical expense risk associated with changes in policy. The spending of people over age 65 is of special concern given their growing share of the population and the portion of their health care expenses that are paid by the government. This article shows total spending is highly concentrated; individuals in the top 5 percent of the expenditure distribution constitute nearly 35% of all medical spending. It also shows medical spending varied based on income. Individuals with lower incomes consumed more medical resources than those with higher incomes. However, higher income individuals have longer life expectancies offsetting the lower annual expenditures.

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About Altus Wealth Management

Altus Wealth Management, based in Ft. Mitchell, Kentucky is a wealth management firm providing investment management and financial planning services.  Each partner serving client accounts is a CERTIFIED FINANCIAL PLANNER.  Altus serves clients nationwide with a focus on serving clients in the Cincinnati, Northern Kentucky and Indiana area.
 


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