Costs for basic health insurance after age 65 can vary by as much as 30 percent from one state to another, according to HealthView Services, a provider of retirement health care cost planning applications based in Danvers, Mass.
Advisors can help clients determine those costs—and determine which states will cost the most to retire in—with a new app developed by HealthView Services known as HealthView Explorer. The app calculates the cost of Medicare Parts B and D and a supplemental insurance policy for a person retiring in each state.
The cost of Medicare Part D, which provides prescription coverage, and supplemental insurance, which covers some costs not covered by Medicare, vary by state, while Part B, which covers doctors’ expenses, is standard across the nation.
Following are the 10 states where these costs are the most expensive in ascending order. The figures represent the cost for first-year health insurance costs and for a 20-year retirement.
10. Indiana
$3,549, $145,235