Your retirement health-care bill: $200,000
By MSN Money Staff
As long as you’re budgeting for retirement, earmark about $200,000 to cover your out-of-pocket medical costs. That’s how much a typical retired couple will spend on prescriptions, deductibles and Medicare premiums, according to an estimate released Monday by Fidelity Investments.
That amount, considered the largest single expense for most people in retirement, increased 5.3% from $190,000 last year, according to Fidelity. Increases have averaged about 5.8% yearly since Fidelity began estimating costs in 2002. The amount does not include expenses such as over-the-counter medications, most dental services and long-term care