Retirement calculator

Healthcare Costs in Retirement

We total your expected healthcare spending from your current age through your planning horizon: premiums plus out-of-pocket costs, growing each year at a healthcare-inflation rate. The result is the lifetime figure — the number a retirement income plan needs to fund.

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The method

How it works

01 Your first-year cost is your all-in monthly premiums × 12 plus your expected annual out-of-pocket spending.
02 Each subsequent year, the whole amount grows by the healthcare-inflation assumption (default 5%) — healthcare costs have historically outpaced general inflation.
03 The lifetime total is the sum of every year from your current age through the age you plan to.
04 The year-by-year curve is shown so the back-loaded shape of the cost is visible, not just the total.

yearCost(y) = (monthlyPremiums × 12 + annualOutOfPocket) × (1 + inflation)^y; lifetime = Σ yearCost(y) for y = 0 … (planToAge − currentAge − 1).

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