Out-of-pocket health care costs continue to take a sizable bite out of retirees’ finances — even as Medicare coverage expands and recent policy changes aim to reduce drug costs, according to a new brief published by the Center for Retirement Research at Boston College.

Using data from the 2018-2022 versions of its Health and Retirement Study, the center’s analysis found that for the median retiree, only 71% of Social Security benefits and 88% of total income remain available for non-medical spending after accounting for premiums, cost sharing and services not covered by Medicare.

These figures remained largely unchanged over the details ⇒

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