Financial Times FT.com

Healthcare costs cut into US savings

By Rebecca Knight in Boston

Published: October 25 2006 05:10 | Last updated: October 25 2006 05:10

The rising cost of healthcare is cutting into the ability of a growing number of Americans to save for retirement, according to a survey to be released on Wednesday.

The survey, conducted by the Employee Benefit Research Institute, a non-partisan research group, said that 36 per cent of Americans have reduced the amount they salt away for retirement because of the burden of greater healthcare costs. That figure is up from 25 per cent in 2004, according to the survey, which is based on interviews with 1,000 adults.

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