Healthcare costs in retirement
Estimate Medicare, supplement, and out-of-pocket costs, plus long-term care planning, through your planning horizon.
Enter estimates for your ages, coverage choices, and current health spending. We project medical costs through your planning horizon.
Your Healthcare estimate
Your Healthcare is one piece of your retirement plan
You are here. Five more steps bring every piece together to answer the bigger question: will your money last as long as you do?
Your Healthcare is one piece of your retirement plan
Your HealthcarePieces still to add
- Current age → retirement
- Expected retirement income
Your retirement plan will also answer
- When can I and my spouse retire?
- How much should I save?
- When should I claim Social Security?
- Should I do Roth conversions?
- How much can I safely withdraw?
- Should I pay off debt first?
- Would my plan weather market ups and downs?
How it works · Your path to a full Health plan
Healthcare
You are hereProjected $18,790
Income
Current income plus Social Security, pensions and annuities
Expenses
Day-to-day living, healthcare premiums and planned future costs
Assets
Homes, properties, investments and savings
Non-mortgage debts
Car loans, credit cards and other balances
Annual savings and review
Confirm yearly savings, then see your full plan
Interpretation
Understand your results
Planning context for the estimates above. Not tax, legal, or investment advice.
Interpretation
Understand your results
Planning context for the estimates above. Not tax, legal, or investment advice.
At retirement (age 65), this model projects about $18,790 per year in healthcare-related costs under the base case scenario. Over your full horizon, that sums to about $726,038, including expected long-term care costs of $245,670.
With $150,000 set aside for healthcare and a 5% assumed return, you may still face a funding gap of about $534,410. Consider increasing savings, reviewing coverage choices, or building flexibility into your broader retirement budget.
Healthcare is one pillar of retirement planning. Pair this estimate with income, tax, and lifestyle planning so your whole plan — not just medical bills — stays resilient.
Methodology
How we figure this out
The rules and math behind this estimate.
Methodology
How we figure this out
The rules and math behind this estimate.
From your retirement age through your plan-through age, the model builds a year-by-year healthcare budget. Before Medicare eligibility, it estimates individual coverage and cost sharing (or reduced employer-sponsored costs if you select that option). At and after Medicare eligibility, it layers standard Part B, optional Part D and Medicare supplement premiums, income-related surcharges based on estimated taxable income, and additional out-of-pocket costs adjusted for health, location, and care preference.
Long-term care is modeled as a probability-weighted annual expected cost, with an optional insurance offset when you have a policy. Scenario pills let you test higher healthcare inflation (+2 percentage points above your slider) or a concentrated multi-year long-term care event.
Dedicated healthcare savings grow at your selected return rate, then pay projected costs each year. Any shortfall accumulates as the funding gap. Results are planning illustrations — not guarantees, personalized medical forecasts, or enrollment recommendations.
Planning estimates only. This tool uses simplified national benchmarks and published Medicare premium structures. It does not provide medical, insurance, or tax advice, and is not a substitute for quotes from insurers, Medicare counselors, or licensed professionals. Premiums, income-based Medicare rules, and benefits change; verify current rules before making decisions.
Frequently asked questions
Straight answers to common questions about this calculator.
How much will healthcare cost in retirement?
It varies by health, coverage choices, and how long you live. Expect premiums, doctor bills, and possibly long-term care. This tool gives a planning range, not a bill.
What does Medicare cover?
Medicare helps with hospital and doctor care but not most dental, vision, hearing, or long-term help with daily tasks. Many people buy extra plans and still pay deductibles and copays.
Can high income raise Medicare premiums?
Yes. Higher tax return income can mean higher Part B and D premiums about two years later.
What is a funding gap?
Money you may still need for healthcare after using savings set aside for that purpose. It is a warning to save more or adjust your plan — not a final bill.
Retirement is more than your money
Your retirement plan is one of five pillars Retirelens helps you plan.
Finance
Know where you stand and what to do next with your money.
Health
Stay on top of coverage, care and habits that keep you well.
Purpose
Shape days you look forward to, with steps to get there.
Connections
Strengthen relationships and build a support circle.
Legacy
Organize what matters and document so your family isn't left guessing.