This Is How Much the Average Couple Will Spend on Health Care Costs in Retirement

The average couple retiring today at age 65 will need $280,000 to cover health care and medical costs in retirement, according to an annual estimate by Fidelity, released Thursday.

The good news is that the figure is up only 2% from last year’s estimate of $275,000, a smaller-than-average increase. The bad news, of course, is that it’s still a huge number, reinforcing the fact that Medicare coverage is neither free nor completely comprehensive.