Baby boomer perceptions of financial planning for anticipated health needs in retirement

America's senior population is growing due to aging baby boomers that will likely increase health resource utilization in relation to varying levels of chronic illness or disease experienced with aging. Americans may not be saving enough to prepare adequately for retirement, especially for potential increased health costs. This qualitative phenomenological study was conducted using focus group interviews to explore the lived experiences of 61 baby boomers regarding their financial planning for anticipated health needs in retirement. Findings include seven core themes: (a) influence of family experiences, (b) delayed retirement, (c) influence of physical or cognitive health, (d) uncertain future of government programs, (e) procrastination of financial planning, (f) uncertain future of health care, and (g) distrust of government involvement.