The survey found that confidence among workers and retirees in having enough for both retiree medical and long-term-care expenses rose: 80% of retirees are very or somewhat confident they will have enough to cover medical expenses in retirement. That is up from 70% last year, when many retirees experienced a steep increase in the standard premium for Medicare Part B, which pays for doctor visits and other types of outpatient care. This year, the standard Part B premium for most people is $135.50, up from $134 last year. In 2017, many people paid about $109.
With the U.S. economy strong and stocks near record levels, retirees’ and workers’ confidence in having enough money for retirement have risen over the past year to all-time highs, according to a long-running survey released Tuesday.
According to the annual report by the nonprofit Employee Benefit Research Institute, 82% of polled retirees are optimistic about their ability to live comfortably in retirement, up from 75% last year. The figure closely matches the levels recorded in 2005 and 2017 and is the highest since the survey started in 1990... Mr. Copeland said the strong economy is likely responsible for this year’s optimistic results.“Typically, as the economy improves and workers become more confident in their current situation, it spills over to their confidence” about retirement, he said. In addition, he added, in a strong economy, many people are able to save more and take steps to plan for retirement, which also boost confidence.