Retirement Trends

Three-fourths of study participants would work up to five extra years should their assistance be needed.

The 7.5% increase since last year reflects rising prices for care, continued utilization growth and growing costs tied to chronic conditions, according to the latest Retiree Health Care Cost Estimate from Fidelity Investments.

Caregiving retirees are more likely than non-caregiving retirees to rate their current lifestyle in retirement as fair, while non-caregivers are more likely to rate it as excellent.

Common reasons include fear of inflation and long-term care costs, according to Allianz Life.

"Employees are still navigating complex financial circumstances that require proactive support from employers to help build long-term stability," said Stacy Bucchere, Managing Director of Workplace Benefits Client Management at Bank of America.

Convince them that hiding under the bed is not the way to minimize risk.