Fidelity estimates that a 65-year-old retiring in 2026 may need about $185,500 for healthcare and medical expenses over retirement. The finding highlights that Medicare does not cover all costs and that healthcare can require a significant separate provision within retirement planning.

The estimate assumes a typical retiree has Original Medicare but no employer-provided retiree health coverage, and it is intended as a planning benchmark rather than an individual prediction. It excludes long-term care costs, while actual spending may differ according to health, location and lifespan; the figure is higher than Fidelity’s 2025 estimate of $172,500.