Healthcare costs probably make up a chunk of your budget. Whether you’re retired on Medicare, get benefits through your job, or have private insurance, there’s no easy way for most Americans to cover insurance costs, much less medical care. The US spends roughly $14,880 per capita annually on healthcare (not just insurance, but medical care), according to data from the OECD. That’s more than 17% of the US Gross Domestic Product (GDP). Most countries, on average, spend about 9.3% of their respective GDPs.

In spite of the money spent, the US ranks 33rd for healthy aging, according to a new analysis from Compare the Market. The study evaluated data and statistics from the United Nations, the World Happiness Report and other sources. Then, researchers compared 50 countries to assess how well they care for their aging populations. Of course, healthy aging isn’t just about the quality of healthcare later in life, but it plays a big role, as the study found.

Factors that contribute to healthy aging

The researchers didn’t just evaluate healthcare costs to determine the best countries for healthy aging. They looked at multiple factors, which included:

Age dependency ratio (the number of dependents younger than 15 and older than 64 per every 100 working-age residents

Number of retirees collecting a pension

The US has an average life expectancy of 79.3 years, which is between one and 1.5 years lower than the top 10 countries on the list. The overall quality of life index in the US landed at 192.1, while the top three countries had a quality of life index over 215. For happiness, the US had an index of 6.724 (out of 10), which was lower than all but two of the top 10 countries.

Top 10 countries for healthy aging

Some retirees consider moving for a lower cost-of-living or better quality of life. If moving outside the US is in your plans, you may want to consider these countries ranked top for healthy aging.

2. Luxembourg

3. Denmark

4. Japan

5. Spain

6. New Zealand

7. Slovenia

8. Austria

9. Norway

10. Switzerland

What you can do within the US to improve your later years

If relocating isn’t in your retirement plans, you can boost your health and longevity within the US. Some factors, like the US healthcare system, may seem out of your control, but there are steps you can take to improve your lifestyle.

“Healthy aging isn’t only about adding years to life, but about adding quality of life to those years,” said Steven Spicer, executive general manager of health, life, and energy at Compare the Market, an Australia-based insurance and loan portal.

Surround yourself with a solid support network

All three countries rated at the top for healthy aging have supportive communities and universal healthcare for residents, which can improve mental health and well-being, especially as people age. Living near family, fostering a network of friends, or forming connections in a senior community can all help older adults thrive.

If friends and family don’t live nearby, learning a new hobby or engaging with community service organizations can provide a sense of purpose and belonging at any age.

Review healthcare options

If you’re approaching the age for Medicare enrollment or have private-pay healthcare, it’s smart to evaluate your choices to see if you can reduce your premium rates or improve your coverage levels. “It’s worth reviewing your health insurance to ensure you can maintain your quality of life and independence well into your later years,” Spicer said.

If you’re still working, ask your employer what treatments your employee benefits cover, advised Michael S. Cohen, CEO of The DBL Center, an insurance wholesaler.

“You may find that preventative and alternative treatments like massage, acupuncture and chiropractic care are covered by your health insurance,” he said. “Other times, plans will include wellness stipends you can apply to expenses like gym memberships, sauna treatments, or cryotherapy. Staying active and reducing stress is especially important in our 40s, 50s, and beyond.”

Also consider ancillary benefits that can bolster coverage. These benefits include in-hospital benefits, dental and vision. As we get older, even if we’ve never needed eyeglasses or extensive dental work, we may have a greater need for these services. Insurance not only pays for important preventative care to keep eyes and teeth healthy but can dramatically reduce costs for pricier procedures.

“I would urge people to ask their employer or benefits manager to consider offering these benefits in the workplace,” Cohen said. “Businesses can often secure these benefits at low premium rates, funded by pre-tax dollars out of employee paychecks. They’re often available on a voluntary basis, so it saves workers money on necessary dental or vision exams and treatments without costing the business a dime.”

Stay physically active

The top countries for healthy aging place great emphasis on physical activity, with walkable communities, support for bicyclists, and a strong sports culture that encourages participation.

But you can make an effort to stay active wherever you live. Experts recommend focusing on three areas when it comes to movement and exercise:

Cardiovascular (running, cycling, or dancing)

Strength (resistance or weight training)

Balance (yoga, pilates, Tai Chi)

Even simple steps can make a difference. For instance, you can pledge to walk a mile a day, find resistance workouts you enjoy, or spend a few minutes standing on one foot to gradually improve your balance and prevent falls. Gradually boosting your fitness levels can make a difference in your healthspan, or the number of years that you live in good health, free of chronic diseases. Healthy aging can also reduce insurance costs, making later years more manageable financially, too.

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