Oct 7, 2015
AARP Launches New Spanish-Language Free Health Care Costs Calculator for Retirement Planning
76% of Hispanic adults between the ages of 50 and 64 do not have any money set aside to cover out-of-pocket health care expenses during their retirement

En español

WASHINGTON, DCToday, AARP launched a Spanish-language version of the free onlineHealth Care Costs Calculator as part of a continuous effort to help older Hispanics minimize health care costs as they age. A recent AARP survey found that 71% of Hispanic/Latino adults, ages 50-64, have not taken any steps to plan for health care costs in retirement. This tool is designed to help estimate how much in costs they will need to cover costs and suggest ways to manage health care costs and provides links to important financial and health resources.  

“When planning for finances in retirement, it is important to consider all types of expenses,” said AARP Interim Vice President of Hispanic Multicultural Leadership Monica Cortes-Torres. “More than 7 in 10 Hispanic/Latino adults ages 50 – 64 have not yet taken steps to plan for health care costs in retirement, so we hope it can make a difference to have a free tool to give advice to Latino families on small changes they can make for a healthier lifestyle that can lead to fewer medical bills and better retirement savings.”

This AARP study also found that Hispanic/Latino adults are less prepared then the general population for future health care costs, with only 27% surveyed reporting that they have tried to estimate how much money they may need, compared to 36% of the general population of adults ages 50 – 64.

The Health Care Costs Calculator estimates health costs in retirement by utilizing a database that includes $14.7 billion in costs from actual health care claims.  Individuals can select from 81 medical conditions to estimate how much they may need to spend on out-of-pocket health care costs.  The calculator also assumes that individuals will be eligible for and select Medicare Parts A, B and D.

After estimating costs with the calculator, users can create a customizable action plan to help save for health care in retirement and make impactful changes in their lives that include planning, saving, and making healthy changes.  For example, if a person has “get to a healthier weight” as a goal, the tool will offer possible next steps for pursuing that goal.

The Health Care Costs Calculator requires no registration and collects no personal data on any user.  To learn more about the tool visit: http://www.aarp.org/CalculaCostosdeSalud.

About AARP AARP is a nonprofit, nonpartisan organization, with a membership of nearly 38 million, that helps people turn their goals and dreams into real possibilities, strengthens communities and fights for the issues that matter most to families such as healthcare, employment and income security, retirement planning, affordable utilities and protection from financial abuse. We advocate for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name as well as help our members obtain discounts on a wide range of products, travel, and services.  A trusted source for lifestyle tips, news and educational information, AARP produces AARP The Magazine, the world's largest circulation magazine; AARP Bulletin; www.aarp.org; AARP TV & Radio; AARP Books; and AARP en Español, a Spanish-language website addressing the interests and needs of Hispanics. AARP does not endorse candidates for public office or make contributions to political campaigns or candidates.  The AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more atwww.aarp.org.​

CONTACT:
Charlotte Castillo, 202-434-2560, media@aarp.org, @AARPMedia