According to the Fidelity Retiree Health Care Cost Estimate, an average retired couple age 65 in 2024 may need approximately $330,000 saved (after tax) to cover health care expenses in retirement.

Medicare Pre-Planning: Ages 62 - 65

• Begin estimating your health care costs in retirement (retirement analysis).

• Before executing any transactions* that will increase your Modified Adjusted Gross Income, determine the potential fee from IRMAA** impacting Medicare Parts B and D premiums (appeal using Form SSA-44).

• Medicare choices are not final, however, Medigap policies may require medical underwriting.

*Roth Conversion, Real Estate Sales, IRA Withdrawals, Executive Compensation Payouts, etc.
** Income-related monthly adjustment amounts, based on tax return from two years prior. (ex. at age 65, utilizes tax return from age 63)