Retiree Health Care Costs Are Rising

Factors driving the increase include longer life spans, health care inflation and health bills for those who retire before they’re eligible for Medicare.

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A 65-year-old couple retiring this year can expect to spend $295,000 on health care expenses throughout retirement, according to Fidelity Investments’ latest Retiree Health Care Cost Estimate. That’s an increase of 18% since 2010, when the amount was $250,000, but up just 3.5% from last year, reports Fidelity. (For single retirees, the 2020 estimate is $155,000 for women and $140,000 for men.)

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