The life expectancy for Americans has been marching upwards for decades, reaching 77.8 years in 2020.1 Today, a 65-year old man will live an average 18 more years, and a 65-year-old woman has an average life expectancy of more than 20 years , and many people will live well past those averages.
With this increase in longevity, your retirement may be a lot longer than that of the generations that came before you. And, as you get older, your health care expenses are likely to increase. Proactive planning for unforeseen health care expenses can help protect the retirement you’ve worked so hard to achieve. Understanding how Medicare works is an important first step.