With health care accounting for such a large chunk of retirement savings – a 65-year-old couple retiring this year can expect to spend an estimated $245,000 on health care throughout their retirement, according to a recent estimate from Fidelity – the merging of health benefits and retirement planning on an exchange platform is a trend worth taking note of.
Health care “has drowned out everything,” says Veer Gidwaney, CEO and co-founder of Maxwell Health, a Boston-based benefits technology company that works with employers and brokers. “Health insurance is driving down education and infrastructure. It has caused people to save less [in their] 401(k) and protect their wealth even less than in the past.”
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