Fidelity Releases 2022 Retiree Health Care Cost Estimate: 65-Year-Old Couple Retiring Today Will Need an Average of $315,000 for Medical Expenses

BOSTON–(BUSINESS WIRE)–Fidelity Investments® today announced its 21st annual Retiree Health Care Cost Estimate, revealing that a 65-year-old couple retiring this year can expect to spend an average of $315,000 in health care and medical expenses throughout retirement1. The 2022 estimate for single retirees is $150,000 for men and $165,000 for women. Fidelity’s estimate assumes both members of the couple are enrolled in traditional Medicare, which between Medicare Part A and Part B covers expenses such as hospital stays, doctor visits and services, physical therapy, lab tests and more, and in Medicare Part D, which covers prescription drugs.

“Even as many Americans look to turn the page on the events of the last two years, staying informed on potential future health care costs should remain a top factor when planning for retirement,” said Hope Manion, senior vice president, Fidelity Workplace Consulting. “At Fidelity, we understand the anxiety as health care issues can feel unpredictable. However, by planning early and saving consistently, people can put themselves in a much stronger position to retire how and when they want.”

Designed to inform Americans on the importance of planning and saving early, the Fidelity Retiree Health Care Cost Estimate was first calculated in 2002 to build greater awareness of the estimated health care costs as individuals approach retirement. This year’s estimate is up 5% from 2021 ($300,000) and has nearly doubled from its original $160,000 in 2002.

This year’s analysis generates both “good” and “bad” news. First, the bad: Americans are generally out of sync with the expected total cost of health care in retirement. In fact, according to Fidelity research, on average, Americans estimate a couple retiring this year will spend just $41,000 on health care expenses in retirement. This is $274,000 less than Fidelity’s analysis. Additionally, more than two-thirds (68%) are under the impression that associated costs will remain under $25,0002.

Once respondents of the research were informed of Fidelity’s estimate, a staggering 70% of respondents say they feel unprepared to cover health care expenses during retirement.3 However, there is still good news: the number of people who feel prepared increases when the person has an HSA. In fact, nearly half (47%) of HSA holders feel prepared for their health care retirement expenses, compared to just 27% of people who do not have an HSA.

An HSA can be a powerful way

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Underneath 45 With Prediabetes? Your Coronary heart Assault Possibility Is Soaring | Health and fitness Information

By By Robert Preidt HealthDay Reporter, HealthDay Reporter

(HealthDay)

MONDAY, May possibly 16, 2022 (HealthDay Information) — If you are a young grownup with prediabetes, you may well by now know you have a higher than ordinary possibility of complete-blown diabetic issues. But you could also be at greater threat for a heart assault, new investigate exhibits.

“Immediately after getting into account different influencing and modifying elements, we observed that young older people with prediabetes experienced 1.7 situations bigger probabilities of remaining hospitalized for a heart attack as opposed to their friends with no prediabetes,” reported Dr. Akhil Jain, co-creator of a new examine. He is a resident medical doctor at Mercy Catholic Clinical Centre in Darby, Pa.

People today with prediabetes have greater-than-ordinary blood sugar amounts, and prediabetes can often lead to kind 2 diabetic issues.

More than one particular-third of Americans 18 or older (88 million) have prediabetes, according to the U.S. Nationwide Institutes of Overall health. Almost 29 million of them are underneath 45 many years outdated.

In this examine, the researchers analyzed nationwide knowledge on a lot more than 7.8 million hospitalizations among the older people ages 18-44 in 2018.

About .4% of the individuals had blood sugar levels indicating prediabetes. Coronary heart assault costs were being 2.15% amongst those with prediabetes, when compared to .3% among those with ordinary blood sugar stages.

Youthful grownups with prediabetes ended up additional likely than those with no prediabetes to have high cholesterol (about 68% vs. close to 47%, respectively) and weight problems (about 49% vs. nearly 26%, respectively).

In contrast to individuals without the need of prediabetes, these with prediabetes have been more most likely to be Black, Hispanic or Asian/Pacific Islander males. They also have been extra likely to have larger house incomes, and to be hospitalized in urban teaching hospitals or to be hospitalized in the Midwest and West.

The exploration was presented at the American Coronary heart Association’s High quality of Care and Results Research Scientific Sessions, held Friday and Saturday in Reston, Va. Data and conclusions introduced at meetings must be considered preliminary until printed in a peer-reviewed clinical journal.

“Even with getting higher odds of having a heart attack, the youthful grownups with prediabetes did not have increased incidences of other key adverse cardiovascular functions, these kinds of as cardiac arrest or stroke,” Jain explained in a meeting news release.

There is

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