Retired couples may need $240,000 for health care
MARK JEWELL AP Personal Finance Writer
BOSTON (AP) - Couples retiring this year can expect their medical bills throughout retirement to cost 4 percent more than those who retired a year ago, according to an annual projection released Wednesday by Fidelity Investments.
The estimated $240,000 that a newly retired couple will need to cover health care expenses reflects the typical pattern of projected annual increases. The Boston-based company cut the estimate for the first time last year, citing President Barack Obama's health care overhaul. Medicare changes resulting from that plan are expected to gradually reduce many seniors' out-of-pocket expenses for prescription drugs.
Read more: http://www.kypost.com/dpp/money/retired … z1uNrzGwvz
Health care is rising at an alarming rate. We need to get medical care costs under control
The shocker for many Americans is that this is a conservative figure and many only dream of having this amount or more for their retirement, not just for healthcare during their golden years.
I guess I failed to understand how social medicine could be called 'free health care' in the first place. It's not that we want 'free' health care, how about using Our taxes to pay for Our health care since we have to pay taxes anyway? The politicians get health care on Our tax dime, why can't we? So that is Not free health care anyway.
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