Healthcare Cost Estimator
Our Healthcare Cost Estimator helps you project your future healthcare expenses in retirement, including Medicare premiums, supplemental insurance, and potential long-term care needs. Understanding these costs is essential for comprehensive retirement planning.
Enter your information below to estimate your healthcare costs in retirement and to develop a more accurate retirement budget that accounts for these significant expenses.
Personal Information
Coverage Options
Economic Assumptions
Healthcare Cost Summary
Cost Breakdown
Projected Costs by Age
| Age | Annual Cost | Cumulative Cost |
|---|
Healthcare Planning Insights
Coverage Analysis
Medicare with a supplement plan provides more comprehensive coverage with predictable costs, but higher premiums.
Your selected coverage is projected to cost $0 annually in today's dollars.
Inflation Impact
With healthcare inflation at 5.5%, your annual healthcare costs at age 75 are projected to be approximately $0, compared to $0 at the start of retirement.
Healthcare costs typically rise 1.5-2x faster than general inflation, significantly impacting retirement budgets over time.
Long-Term Care Considerations
Without long-term care insurance, you may need to set aside additional savings for potential long-term care needs. Consider that approximately 70% of people over 65 will require some form of long-term care in their lifetime.
The average duration of long-term care needs is about 3 years, with costs varying significantly by region and level of care required.
Retirement Planning Implications
Healthcare is likely to be one of your largest expenses in retirement, potentially consuming 15-30% of your retirement budget.
Consider setting aside approximately $0 in today's dollars (or the equivalent future value) specifically for healthcare expenses during your 20 years of retirement.