The average 65-year-old couple retiring today will need $260,000 just to cover healthcare expenses🐻, a new study shows.
That’s a six percent jump over last year’s estimated $245,000 and an 18 percent surge since 2014, according to Fidel🔴ity’s on reti🦂ree health care expenses.
It’s also the h♏ighest figure since 2002, when the investment giant starte🐠d crunching how much a couple will need to set aside for the rest of their lives if they retire now.
This yea♈r, Fidelity pointed the finger at prescription drugs, especially hi💦gh-priced niche drugs, for driving up costs. As the economy improves, retirees are also using more health care.
Out-of-pocket prescription drug costs represent about a quarter𝔍 per📖cent of the total $260,000.
Arou🥃nd a third goes to Medicare premiums, including Part B (doctor visits and outpatient care) and Part D (prescription drugs).
Another 40 percent will go to co-payment♏s, deductibles and expenses for things not covered by Medicare, such as most vision, hearing and dental costs.