Retirees still require a large savings to cover out-of-pocket health expenses in retirement, despite the reduced retirement health costs the new health reform law brings, according to a nonpartisan Employee Benefit Research Institute report.

Women especially need more savings because they typically live longer than men. EBRI, for example, finds men retiring in 2010 at age 65 need $65,000-$109,000 in savings to cover retirement health insurance premiums and out-of-pocket expenses for a 50 percent chance of having enough money. For a 90 percent chance, $124,000-$211,000 is needed. However, women retiring in 2010 at 65 need $88,000-$146,000 in savings for a 50 percent chance of having enough money while $143,000-$242,000 is needed for a 90 percent chance.

EBRI estimates these figures for Medicare beneficiaries age 65 and older, and for those retiring before age 65, more savings is needed.