66% of Retirees Spend This Much on Health Care

The amount that most seniors spend on medical care is equivalent to a big chunk of the average Social Security check.

Chris Kissell | Courtesy MoneyTalksNews

As we age, the need for health care services rises. And millions of Americans depend on their Social Security benefit to cover the cost of such care.

About two-thirds of retirees — 66% — spend more than $375 a month on health care costs, a recent survey by The Senior Citizens League (TSCL) found. That amount is equivalent to roughly one-quarter of the average Social Security benefit of $1,523 per month, TSCL reports.

In addition, 31% of retirees surveyed spend more than $1,000 monthly on health costs, which is about two-thirds of the average Social Security benefit.