Calculate Medicare Out of Pocket Costs

On several occasions we have posted about retirement and income security. Part of planning for a secure retirement is having an accurate (as possible) picture of your out of pocket health care costs and budgeting accordingly.

 AARP’s Public Policy Institute has released the latest version of their annual Medicare Beneficiaries’ Out-of-Pocket Spending for Health Care.  Insight on the Issues # 88 (Dec. 2013) looks at a beneficiary’s out of pocket (OOP) costs in three categories: services covered by Medicare and not covered and total costs of health care. The report provides narrative information as well as illustrative charts. One includes median OOP spending based on chronic conditions.  Another looks at OOP costs for those beneficiaries who have Medigap or other supplemental policies. The report also makes recommendations regarding OOP costs. To access the prior year’s report, click here.