You won't believe the amount of money retirees need for Medicare in 2016
- 8 years ago
Healthcare costs appear to be growing after a study by Fidelity Investments finds today's 65-year-olds spending an average of $130,000 on health care during their retirement.
The average single 65-year-old woman can expect to need $135,000 to spend on health care in retirement, while a man will spend $125,000, according to estimates from Fidelity Investments.
Fidelity conducts estimates of how much it will cost for today's average 65-year-olds to cover health-care expenses annually.
In 2016, couples will need to set aside a record $260,000 for medicare premiums and all other out-of-pocket expenses.
High-cost specialty prescription drugs appear to be the culprits.
The average single 65-year-old woman can expect to need $135,000 to spend on health care in retirement, while a man will spend $125,000, according to estimates from Fidelity Investments.
Fidelity conducts estimates of how much it will cost for today's average 65-year-olds to cover health-care expenses annually.
In 2016, couples will need to set aside a record $260,000 for medicare premiums and all other out-of-pocket expenses.
High-cost specialty prescription drugs appear to be the culprits.