Projections show couples retiring this year can expect a 4 percent increase on their medical bills throughout retirement over those who retired a year ago.
By Mark Jewell|May 09, 2012 at 06:51 AM
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BOSTON (AP) — Couples retiring this year can expect their medical bills throughout retirement to cost 4 percent more than those who retired a year ago, according to an annual projection released Wednesday by Fidelity Investments.
The estimated $240,000 that a newly retired couple will need to cover health care expenses reflects the typical pattern of projected annual increases. The Boston-based company cut the estimate for the first time last year, citing President Barack Obama’s health care overhaul. Medicare changes resulting from that plan are expected to gradually reduce many seniors’ out-of-pocket expenses for prescription drugs.
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