Wednesday, March 24, 2010

Fidelity Investments study finds that a typical retired couple needs $250000 for medical expenses even with Medicare (not counting long term care or dental)

From Bill Boushka retires

According to an AP story today by Mark Jewell, Fidelity Investments ran a study showing that the typical couple retiring at full retirement age would need $250000 to cover out-of-pocket medical expenses today, even with Medicare. The study didn’t even include dental, or nursing home or custodial care. It sounds amazing that supplemental insurance premiums and copays (including prescription drugs) would amount to this much ($125000 per person, probably more for women), with average life expectancies at retirement now of 82 for men and 85 for women.

The Fox43 news instance of the story is here.

The recent "Obamacare" health care bill signed today will help a wee bit.

I couldn’t find the study on the Fidelity Investments site yet.

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