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The after-tax cost for medical expenses throughout retirement for a single, 65-year-old retiree held steady at $157,500 ($315,000 for the average retired couple at the same age).
There’s no way to know for sure, but as of last year, the Fidelity Retiree Health Care Cost Estimate puts it at $315,000 per couple (or $157,500 after tax per individual) for costs such as co ...
Fidelity Releases 2024 Retiree Health Care Cost Estimate, Fidelity. Accessed August 8, 2024. Accessed August 8, 2024. Inflation Reduction Act and Medicare , Centers for Medicare and Medicaid Services.
This total charge data can be converted into cost estimates using the CCR Files, which include hospital-wide values of the all-payer inpatient cost-to-charge ratio for nearly every hospital in the participating NIS, KID, NRD, and SID. The CCR Files are updated annually and available for the HCUP inpatient databases beginning with 2001 data.
Data from the Fidelity Retiree Health Care Cost Estimate revealed that in 2023, a single person age 65 would likely need to save about $157,000 after tax to pay for retirement healthcare expenses ...
This government mandated care places a cost burden on medical providers, as critically ill patients lacking financial resources must be treated. Medical providers compensate for this cost by passing costs on to other parts of the medical system by increasing prices for other patients and through collection of government subsidies. [28]