Can you name the number one cause of bankruptcy?
The answer is unpaid medical bills.
It seems that U.S. bankruptcies resulting from unpaid medical bills affect nearly 2 million people a year.
About 1 out of 5 will struggle with health-care-related bills.
Around 11 million people will take on credit card debt to pay for medical bills… and 15 million will lose their savings to medical bills!
Fidelity updates the cost of health care on a regular basis. Their Retirement Health Care Cost Estimate projects that a couple, both aged 65 and retiring in 2015, can expect to spend an estimated $245,000 on health care.
That figure has increased 29 percent since 2005 when it was $190,000.
A quarter of a million-dollar hit on your capital can put a strain on your future financial security. And that doesn’t include the high cost of long-term care.
You can’t control the increases in the future cost of medical expenses or long term care.
You can control whether you are better prepared.
We are happy to show you how.
