Cost of Healthcare in Retirement

Cost Of medical expenses in retirement estimated at $250,000.
The AP (3/25, Jewell) reports that, according to a study to be released by Fidelity Investments on Thursday, "a couple retiring this year will need a quarter of a million dollars, on average, to cover medical expenses in retirement." The projection "is up 4.2 percent from" last year, which is less than the past yearly average of 5.7% "because a surge in patent expirations for brand-name drugs meant many cheaper generic versions reached the market." According to the Post, "the findings illustrate the importance of factoring in healthcare alongside housing, food and other expenses in retirement planning." The estimate does not consider new policy due to passage of the healthcare reform legislation, and "doesn't factor in most dental services, or long-term care." Reuters (3/25, Kerber) also covers the story.