DES
MOINES, Iowa -- As if saving for retirement wasn't enough to worry
about, now comes a study that shows a couple retiring this year needs
about a quarter of a million dollars to cover medical expenses.
The 0,000 estimate is a 6.7 percent increase from last year's and the cost is expected to keep rising.
The Fidelity Investments study is based on projections for a
65-year-old couple retiring this year with Medicare insurance coverage.
It assumes no employer provided insurance and a life expectancy of 17
years for the man and 20 years for the woman.
To paint a full picture, Fidelity also factors in Medicare
deductibles, copayments, as well as certain services that may not be
covered.
In just seven years of its annual study, projected medical expenses have increased by 50 percent.
For rest of article see:
http://www.latimes.com/business/la-fi-retire27-2009mar27,0,250546.story
This is soooo sad. So much for the American Dream.