Good point, Jakkom, And good to see you back here!

The teleseminar call I did last night with Pamela Sams was very instructional with regard to this topic. Pam spent a lot of time talking about the need to budget for healthcare in retirement. She referred to a recent Fidelity report that says that a 65-year old couple who plans to retire in 2012 needs an additional $240,000 over their projected lifetimes, to cover out-of-pocket costs not covered by Medicare.

This figure shocked me, but apparently it's been hanging around in that vicinity for a number of years according to an article I found about this topic that was published in US News and World Report in May 2012.

Another more recent article, published in October in the New York Times says:
Quote:
“Most people don’t realize Medicare covers much less than traditional employer plans,” Sunit Patel, senior vice president in Fidelity’s benefits consulting group. “The $240,000 number captures the Part B premium for physician services, Part D for prescription drugs. Then there are deductibles and coinsurance, and benefits that are not covered like vision exams, hearing aids.”


As I'm young enough not to qualify for Medicare, I have never really looked into it. But it seems we really need to plan for the ability to manage significant healthcare expenses in retirement.

How to do that is something I'm still working on... Meanwhile, if anyone reading this post would like me to upload a link to the recording of Thursday's teleseminar, let me know. Due to the Thanksgiving holiday, it hasn't yet been published on the NABBW site.
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