Is your nonprofit working with Boomers, either as service-users or volunteers? You might be interested in this data from the Center for Retirement Research at Boston College. $197,000 is the amount the typical couple at age 65 should expect to spend on uninsured health care costs over the rest of their lives. This includes insurance premiums, out-of-pocket costs and home health care but not nursing home care. The amount rises to $260,000 when nursing home care is included.
This could mean that those expecting to retire may decide to keep working – how would that affect your volunteer program? Or it might mean more demand for your services. Find more on Minnesota’s efforts to prepare for Boomers reaching retirement age at www.dhs.state.mn.us/2010.
Posted by Myrna Meadows, NRS, International Falls
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