Retirement Health Care Costs Average $220K per Couple
Fidelity Investments estimates that a couple retiring this year should expect to spend an average of $220,000 in health care costs during the couple's retirement. Fidelity's estimate takes into account Medicare premiums, out-of-pocket costs and copayments but does not factor in potential nursing home costs. A small percentage of individuals older than age 55 who had not yet retired were able to accurately estimate retirement health care costs, with nearly 60% saying that they expected to spend less than $50,000.
- "Retiring Couples Face $220K in Health Care Costs, Study Says" (Newsham, Boston Globe, 6/12).