Couples expecting to retire this year can expect to spend nearly a quarter of a million dollars in out-of-pocket health care costs throughout their retirement.
The exact estimate, $245,000, is up from the $220,000 estimated in total costs last year, according to Fidelity’s Benefits Consulting Group.
This year’s estimate represents a 29 percent increase from 2005, when Fidelity estimated retirement health care costs to be $190,000 per retiring couple.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
