Many retirees are finding it difficult to cover the astronomical cost of health care after their retirement, according to a report released by the United Health Foundation and the Alliance for Aging Research.

Health care expenditures are expected to exceed $3.5 trillion by the end of this year and to continue climb at a rate of 5.6 percent each year through 2025. This continual rise has made health care affordability a major concern for families across the U.S., and especially for retirees. Nearly half of retirees have saved around $20,000 for retirement, far less than experts predict it will cost to cover their health care alone.

A 65-year-old couple retiring today is expected to spend nearly $260,000 on health care, whereas a 45-year-old couple retiring 20 years from now is expected to spend nearly $600,000. These estimates only consider the cost for health care coverage, such as Medicare Part B and Part D premiums, the cost of supplemental Medicare coverage and out-of-pocket expenses not covered under Medicare. These estimates don’t include long-term care costs that many retirees may need.

The report showed 50 percent of retirees over the age of 65 either have no idea or no opinion on the cost of health care after they stop working. Many reported they have less money in their savings than it would take to cover health care alone.

The United Health Foundation and the Alliance for Aging Research warn that the next generation of seniors are at risk of facing serious health challenges, and should be thinking ahead about the cost of their health care in retirement.