MarketWatch May 16, 2022
Medical expenses in old age continue to rise year after year
Healthcare costs continue to rise — Americans planning to retire should prepare ahead of time.
The average 65-year-old couple retiring in 2022 can expect to spend $315,000 in retirement on healthcare alone, according to Fidelity Investments’ annual report on retirees’ healthcare planning — that’s a 5% increase from 2021 when it was $300,000 and nearly double from the first report in 2002 when it was $160,000. For single male individuals, that figure is $150,000 and for women, it’s $165,000.
The estimate includes Medicare Part A and Part B coverage, which covers doctors’ appointments, hospital visits and physical therapy, as well as Part D for prescription drugs....
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