Some Retired Couples Might Need $413,000 for Healthcare Costs. Consider Yourself Warned.
Many people expect their living costs in retirement to shrink, compared to their costs during their working years. While certain expenses might go down once your career comes to an end, there's one expense that has the potential to rise big time -- healthcare.
New research from the Employee Benefit Research Institute finds that some retired couples could need as much as $413,000 in savings to cover their senior healthcare costs. Granted, this figure applies to Medicare enrollees with particularly high prescription drug costs. Even so, couples enrolled in original Medicare who also have Medigap insurance with average premiums will need a whopping $351,000 in savings to have a 90% chance of covering their medical care throughout their senior years.
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Source Fool.com