| ■ Retirees May Need More Than $100,000 for Health Expenses: Report | 2010.12.03 |
| Even with Medicare coverage, a 65-year-old American who retires this year may need more than $100,000 to cover premiums, co-payments and other non-reimbursed medical costs during retirement, according to a new report from the Employee Benefit Research Institute. The institute said those retirement health costs are likely to be higher for women because they live longer than men, msnbc.com reported. A 65-year-old man who retires in 2010, has average health expenses, and is comfortable with a 50 percent chance of having enough money saved for health expenses would need $65,000 in savings. A woman in the same circumstances would need $93,000, according to the institute. But men who want to have a 90 percent chance of having enough money saved for health expenses should have $124,000 and women should have $152,000, msnbc.com reported. |