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A Fidelity Consulting Service study conducted in 2010 concluded; “Health care is a big-ticket expense for most retirees. Out-of-pocket health care costs for the average 65-year-old couple can reach $250,000 over 20 years in retirement and nearly $500,000 over a 30-year retirement.”* Upon signing up for Medicare benefits, many people are surprised to learn that there are costs involved with the program. Despite paying into Medicare throughout their careers, retirees may also face monthly premium and cost-sharing provisions for most Medicare programs after they enroll.

* Fidelity Consulting Services, 2010. Based on a hypothetical couple retiring in 2010, 65 years or older with average (82 male, 85 female) and longer (92 male, 94 female) life expectancies. Estimates are calculated for “average” Retirees, but may be more or less depending on actual health status, area, and longevity.

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7 out of 10 consumers can’t correctly estimate how much healthcare costs are going to be in retirement.

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