One of the biggest financial obstacles for retirees is paying for healthcare, according to a GOBankingRates survey. Healthcare in retirement can be expensive, with the average couple needing an estimated $280,000 after taxes to cover healthcare expenses over the course of their retirement, according to the Fidelity Health Care Cost Estimate.
While there is no way to avoid medical expenses — at least not one that doesn’t involve ignoring your doctors — the variation in healthcare market costs from region to region do mean that where you’re spending your golden years can play a major role in what you can expect to spend.
The study looked at those cities where the average annual healthcare costs per capita were under $5,000, then scored that data along with the average out-of-pocket costs and income for those age 65 and older to come up with a final ranking of cities where retirees could potentially pay less for medical care.
