"Fidelity views medical costs as one of the biggest retirement issues facing the country. Many Americans may not be aware of the significant health care costs they will face in retirement or the importance of factoring these costs into their retirement planning.
Fidelity estimates that a couple retiring today at age 65 will need approximately $200,000 in savings to cover their health care expenses, including insurance premiums and out-of-pocket costs, assuming that they do not have any employer-provided retiree health care. A couple retiring earlier may need even more. This estimate does not include the cost of nursing home care. It is important to note that Medicare provides only very limited coverage for this coverage.
Of course, each person's situation is different. Your retirement medical costs will depend upon your health status, how long you live, available insurance plans, and medical costs in your area."
Using Fidelity's retirement health care calculator with the following inputs:
Male, 32 years old, single
Retirement age: 65
Life expectancy: 90
Medical inflation rate: 6%
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HELPFUL LINKS (copy & paste in browser)
https://powertools.fidelity.com//healthcost/intro.do
https://powertools.fidelity.com/healthcost/glossary/paper.pdf
http://www.fool.com/personal-finance/general/2003/09/03/health-care-retirements-fourth-leg.aspx
http://www.choosetosave.org/calculators/index.cfm?fa=retireeCalc
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