July 10, 2015 Fact of the Day: Are affluent investors worried about rising medical care costs?
DID YOU KNOW THAT CONCERNS OVER HEALTHCARE COSTS CONTINUE TO INCREASE AND ARE BECOMING TOP-OF-MIND FOR MANY MILLIONAIRES?
This is especially true among Millionaires that are not currently receiving Medicare (most of whom are still working) and among Senior Corporate Executives. A recent Spectrem Group study revealed that 88 percent of those not on Medicare believe that their insurance premiums will increase at least 5-10 percent, with 30 percent indicating that they will be paying at least 20 percent more. Additionally, 95 percent of those not on Medicare indicate their deductibles will increase with more than a quarter indicating their deductibles will increase 20% or more.
Senior Corporate executives are the most likely to feel that all of their healthcare costs, from premiums to deductibles to out-of-pocket costs, will increase 10% or more. These individuals are more likely to have a stronger understanding as they help make decisions for their companies.
How well do you understand your healthcare costs? Advisory firms need to increase their knowledge so they can help investors to understand these issues better.
To learn more about Millionaire investors and their concerns, click here or contact Randy Wostratzky at email@example.com or 224-544-5195.