Retiring? Better Have $240K for Health Care Fidelity releases annual estimate By Evann Gastaldo, Newser Staff Posted May 9, 2012 1:27 PM CDT 22 comments Comments (Flickr) (Newser) – Retiring this year? You and you significant other will need $240,000 for health care expenses, according to Fidelity Investments' latest annual projection. That's up 4% from last year's $230,000 estimate, which is a typical—and actually fairly modest—increase, BusinessWeek reports. Since 2002's $160,000 estimate, the annual figure has increased an average of 6% per year. The calculation is based on a 65-year-old couple who live until 85 (women) and 82 (men) and are not covered by employer insurance but do have Medicare coverage. And if you think $240,000 is a tough pill to swallow, some bad news: Though the estimate includes premiums, co-payments, deductibles, and prescription costs, should you need to go to a nursing home, that long-term-care cost isn't factored in; neither is dental care. BusinessWeek notes that the estimate could change if the Supreme Court strikes down part or all of ObamaCare.