Fidelity Investments released their annual estimate of the amount required to cover health care costs in retirement. The $240,000 estimate is for a 65 year old couple retiring in 2009.
This amount is in excess of what is provided by Medicare. In other words, the $240K is for costs over and above what is covered by Medicare. The $240,000 is up 50% from 2002, highlighting the fact that retirees face vastly different rates of inflation than the rest of the population.
Source: Fidelity Investments
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