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Story summary
- Fidelity estimates a typical 65-year-old retiring this year will spend $185,500 on healthcare.
- The amount is 7.5 percent higher than last year’s $172,500 and more than double the 2002 estimate.
- Fidelity found 54 percent of preretirees wrongly believe Medicare covers all health expenses.
- The projection excludes long-term care, which a HHS analysis says 56 percent of 65-year-olds will need.
