How much should you expect to spend on healthcare throughout retirement?
Fidelity’s 2026 estimate found that a 65-year-old individual may need approximately $185,500 in after-tax savings for healthcare and medical expenses over retirement. For a couple, the combined cost can easily exceed $300,000.
That estimate assumes eligibility for Original Medicare and includes Medicare Part B and Part D premiums, deductibles, coinsurance, copayments and certain out-of-pocket prescription costs.
It does not include long-term care, most dental services or over-the-counter medications. It is also a lifetime planning estimate, not an amount you must pay when you retire.
Your actual cost will depend on your health, longevity, location, prescription needs, Medicare coverage, income-related premiums and whether you need long-term care.
Use national estimates as a starting point, then build a projection around your own circumstances.
Review the 2026 Fidelity Retiree Health Care Cost Estimate. [https://newsroom.fidelity.com/pressreleases/fidelity-investments–shares-25th-annual-retiree-health-care-cost-estimate–highlighting-the-importa/s/0dd560b4-98cb-492e-bdec-f7168f97aede]
If this is your first time with me, I’m Elizabeth.
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