The cost of health care in retirement is getting more expensive as the price of everything from co-payments to prescription drugs increases.
How much will it all cost? According to Fidelity Investments’ 24th annual Retiree Health Care Cost Estimate, about $174,500. That’s how much an individual aged 65, with Medicare, will spend in his or her lifetime on out-of-pocket health care expenses. That’s up 4% from $165,000 in 2024. Back in 2002, the first year Fidelity put out an annual estimate, the cost was a mere $80,000.
