Costs associated with individual health insurance can be significant for some people, especially with many still feeling a financial pinch from the economic downturn.

Fortunately, more people are putting their money aside to help cover their medical bills. The First Command Financial Behaviors Index shows people are saving 42 percent a month more for medical expenses than they were a year ago.

First Command Financial Services CEO Scott Spiker says people setting aside more money is a positive trend, especially since government health care programs will be further strained in the future. The additional savings people are putting aside may still not be enough to cover all expenses.

"Social Security and Medicare will become increasingly stressed by a growing elderly population that will face higher health care costs and longer retirements than past generations," says Spiker. "Tomorrow's retired Americans will have to bear more of the financial burden of their own medical care."

According to data from the U.S. Census Bureau, there were 35 million Americans over the age of 65 in 2000. The number of elderly people living in the country is expected to rise along with the cost of healthcare.