Cheryl Costa, a licensed monetary planner in Framingham, Mass., stated that the projections may appear scary however that it may assist to consider the estimates in annual or month-to-month prices, slightly than a lump sum. Over 20 years, Fidelity’s common estimate works out to about $656 a month — not out of line with what you might already be paying for well being care, she stated.

“Keep it in perspective,” she stated.

Carolyn McClanahan, a licensed monetary planner in Jacksonville, Fla., stated that there have been many variables in well being care prices, and that future adjustments to Medicare guidelines have been unpredictable. So slightly than specializing in generic estimates to avoid wasting for retirement well being prices, she stated, folks ought to think about their particular scenario, together with what they at the moment pay for well being care, their common well being standing, their household historical past and the way a lot well being care they use.

“What is your health care mind-set?” Ms. McClanahan stated. If you don’t go to the physician that usually and also you’re exercising and sustaining a wholesome weight, your out-of-pocket prices in retirement could also be decrease and you’ll funds accordingly, she stated.

Here are some questions and solutions about well being prices in retirement:

Are well being financial savings accounts helpful for retirement well being prices?

Health financial savings accounts, or H.S.A.s, supply invaluable tax benefits and might be an effective way to avoid wasting for retiree medical prices, monetary advisers say — in case you qualify to contribute to 1. You should be enrolled in a high-deductible well being care plan, with a selected annual deductible (a minimum of $1,500 for particular person protection in 2023).

Money is deposited pretax, grows tax free and isn’t taxed once you withdraw it, so long as you spend it on eligible bills. An particular person can contribute as much as $3,850 in 2023, plus an additional $1,000 for these over 55. (Once you enroll in Medicare, you’ll be able to no longer contribute to an H.S.A., however you should use the funds to pay for well being and medical bills.)