Close Close

Life Health > Health Insurance

Older Americans Worry Less About Health Costs

Your article was successfully shared with the contacts you provided.

U.S. consumers over age 45 are less likely than comparable consumers in some other developed countries to cite affordability of health care as a critical post-retirement financial concern.

Researchers at Hartford Life, Simsbury, Conn., a unit of Hartford Financial Services Group Inc., Hartford, have published that finding in a summary of results from a survey of 6,750 consumers in Australia, Germany, Italy, Japan, South Korea, Spain, Taiwan, the United Kingdom and the United States.

The percentage of U.S. residents who said they worry about getting by on a daily basis in retirement was about 50% in the United States, compared with 54% in Spain, 56% in Germany and 59% in the United Kingdom, Hartford researchers report.

U.S. participants also ranked relatively low in terms of the percentage of participants who said the ability to afford health care is an important financial concern.

Only 16% of the U.S. participants were very worried about health care affordability. That was higher than in Germany, where only 14% of the participants worried about health care costs, but significantly lower than in several other countries.

The percentage of participants worried about health care affordability was 19% in Japan, 21% in Italy and 23% in South Korea.

U.S. residents also were somewhat more likely than participants in many other regions to say they knew where to turn for financial advice and somewhat more positive about their own financial planning knowledge.


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.