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How Much Does the Average Senior Spend on Health Care?

Money Talks News Logo By Karla Bowsher of Money Talks News | Slide 2 of 5: Average spending for a U.S. household led by someone age 65 or older: $4,748 per year Average spending across all U.S. households: $3,529 per year Insurance is easily the largest health care expenditure for households of any age, but it’s highest for senior households. On average, they spend $4,748 — about $396 a month — on insurance. That’s 9.5% of their total spending. As defined by the Bureau of Labor Statistics, the expense of health insurance includes various types of insurance — including traditional fee-for-service health plans, HMOs and supplemental Medicare plans, for example. Related: 12 Ways Retirees Can Earn Passive Income

Health insurance

Average spending for a U.S. household led by someone age 65 or older: $4,748 per year

Average spending across all U.S. households: $3,529 per year

Insurance is easily the largest health care expenditure for households of any age, but it’s highest for senior households. On average, they spend $4,748 — about $396 a month — on insurance. That’s 9.5% of their total spending.

As defined by the Bureau of Labor Statistics, the expense of health insurance includes various types of insurance — including traditional fee-for-service health plans, HMOs and supplemental Medicare plans, for example.

Related: 12 Ways Retirees Can Earn Passive Income

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