A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover medical expenses throughout retirement, according to the latest retiree health care costs estimate calculated by Fidelity Investments. This represents a 4% increase from last year, when the estimate was $230,000.
For many Americans, health care likely will be among their largest expenses in retirement. The estimate, calculated by Fidelity’s benefits consulting business, does not include any costs associated with nursing home care and applies to retirees with traditional Medicare insurance coverage.
