HealthLeaders Media May 18, 2022
Survey finds Americans will need 7x more than they expect to pay for healthcare in retirement.
KEY TAKEAWAYS
– Fidelity’s 21st Annual Retiree Health Care Cost Estimate for single retirees is $150,000 for men and $165,000 for women.
– The estimate assumes both members of the couple are enrolled in traditional Medicare and Medicare Part D, which covers prescription drugs.
– The 2022 estimate is up 5% from 2021 ($300,000) and has nearly doubled from its original $160,000 in 2002, the first year the estimate was published.
A 65-year-old couple retiring this year will spend about $315,000 for medical expenses throughout retirement, about seven times more than they expect to pay, according to a new study from Fidelity Workplace Consulting.
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