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Retirees Need $130,000 Just to Cover Health Care, Study Finds

Out-of-pocket cost estimates that had held steady have now hit a record high.
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Photographer: Hero Images Inc./Getty Images/Hero Images

Today's 65-year-olds can expect to spend an average of $130,000 on health care during their retirement, from premiums to co-payments to eyeglasses, according to new estimates.

The average single 65-year-old woman can expect to need $135,000 to spend on health care in retirement, while a man will spend $125,000, according to estimates from Fidelity Investments. (The difference is because the woman is expected to live longer—an additional 22 years, vs. 20 years more for the man.)