A 2019 Retired Couple Needs $285,000 to Cover Medical Expenses
A 65-year-old couple retiring in 2019 can expect to spend about $285,000 in health care and medical expenses throughout retirement, which is $5,000 more than 2018, according to Fidelity Investments annual report.
For single retirees, the health care cost estimate is $150,000 for women and $135,000 for men. Fidelity says their estimate assumes both members of the couple are eligible for Medicare.
Fidelity suggests people practice good saving habits in order to save enough for retirement, including getting up to speed with Medicare and learning about what it costs and cover and speaking to a financial professional for guidance.