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AP: Retirees Need $250K For Healthcare

From a suddenly awoken Associated Press:

Retired couples may need $250k for health care


March 24, 2010

BOSTON — Relief to seniors facing high prescription drug costs is one of the first changes to come under the new health care overhaul. But ultimately that won’t offset the relentless increase in retirees’ medical expenses.

A couple retiring this year will need a quarter of a million dollars, on average, to cover medical expenses in retirement, according to a study to be released Thursday by Fidelity Investments.

The estimate is up 4.2 percent from Fidelity’s projection last year. The Boston-based financial services company has updated its estimate annually since 2002 as part of its business helping employers design workplace benefits programs.

The study is based on projections for a couple of 65-year-olds retiring this year with Medicare coverage. The estimate factors in the federal program’s premiums, co-payments and deductibles, as well as out-of-pocket prescription costs. The study assumes no employer provided insurance in retirement, and a life expectancy of 85 for women and 82 for men

Mind you, this is before all of the supposed ‘cuts’ that are built into Mr. Obama’s healthcare reform bill. So this number will only go up.

Again, would it be cynical to question the timing of this report?

This article was posted by Steve on Thursday, March 25th, 2010. Comments are currently closed.

One Response to “AP: Retirees Need $250K For Healthcare”

  1. proreason says:

    Frankly, anything from the AP is worth less than a roll of toilet paper.

    What if they invented a pill that was guaranteed to prolong your life for 3 years, but it cost $250,000? Would you work as a cess-pool cleaner for 10 years to save the money?

    Most of the “need” for medical services is malarkey drummed up by the Marxists and their state-run media to force you into serfdom. And the AMA is more than happy to ride along.

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