Intelligence

Retirement Education and Rising Healthcare Costs

Employee Benefit News published a piece highlighting a report from HealthView Services. The report revealed that the lifetime healthcare expenses of a 45-year-old couple will be much higher than the overall Social Security benefits that the couple will receive, due to rising medical costs. Why is it possible that social security will “fall short” for these people? Why is it important for organizations to prioritize retirement education for these workers before they reach retirement age? What can organizations do to help make sure their employees are prepared financially for retirement well before they are set to retire? How should this be addressed when it comes to healthcare benefits and employees of different ages? What does this mean for organizational finance leaders? How should they work with HR and others to ensure effective employee communication and education?