News Headlines Article

Retiree health care costs rising; many people not preparing
USA Today

The golden years are losing their luster as health care costs continue to outpace income and many Americans are not saving for retirement. Retiree health care costs have increased an average 6% a year since 2002, according to a study by Fidelity Investments. A 65-year-old couple would need $240,000 to cover medical expenses during their retirement years, it estimates. That amount could eat up 35% of the couple’s annual Social Security benefit. And it doesn’t even include any long-term care costs.