What Health Care May Cost in Retirement

Many people assume Medicare covers nearly everything once they turn 65, but it doesn't.

Fidelity’s most recent estimate puts a number on it. A single 65-year-old retiring in 2026 may spend an average of $185,500 on health care throughout retirement. That’s up 7.5 percent from the year before. About 45 percent goes to monthly Medicare Part B and Part D premiums. Another 48 percent covers costs such as copayments, deductibles, and vision and hearing exams. The estimate leaves out over-the-counter medications and most dental services.¹

If you’d like to talk through what it could mean for your own retirement, I’m here whenever you’re ready.

^{1. BusinessWire.com, July 21, 2026}