Retirees worry whether they'll be able to pay their medical bills
According to recent research from Fidelity Investments, almost seven in 10 (68%) of those approaching retirement said rising health care costs is one of their three biggest financial concerns (outliving savings and inflation being the other worries).
Fidelity Investments recently released its annual estimate of the lifetime, out-of-pocket costs for medical bills for a couple, both age 65, retiring in 2011. This year’s number — $230,000 — is down $20,000 from 2010’s estimate of $250,000.
Fidelity's estimate is a projection of what an average couple would need. Actual costs will vary widely, of course, depending on a couple's medical needs and how long they live. The study assumes no employer-provided insurance in retirement, and a life expectancy of 85 for women and 82 for men.