RETIREMENT MEDICAL BILLS WILL TOP $200,000 FOR AVERAGE COUPLE
May 12, 2006
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Fidelity Investments this week released a study claiming that a 65-year-old couple retiring today will need on average a tidy $200,000 set aside to pay for medical costs in retirement. The study assumes a lack of employer-sponsored retiree health care, and includes expenses associated with Medicare Part B and D premiums ($64,000), Medicare cost-sharing provisions such as co-payments, co-insurance, deductibles and excluded benefits ($72,000), and prescription drug out-of-pocket costs ($64,000). Fidelity’s numbers do not include other health expenses, such as over-the-counter medications, most dental services and long-term care.
Source: New York Bankruptcy & Consumer Law Blog
RETIREMENT MEDICAL BILLS WILL TOP $200,000 FOR AVERAGE COUPLE
