Many people might hear about the staggering health-care costs that come with retirement and think there's no way it will apply to them.
But financial advisors say that those high costs are real. And those medical expenses should be a key line item in any retirement plan.
On top of paying Medicare premiums, "a lot of people don't realize how much the out-of-pocket expense will be, because they haven't had to use their health insurance a lot or for the types of common [ailments] that come with age," said Greg Hammer, CEO and president of the Hammer Financial Group. "The expenses can become a huge burden."
Indeed, data from Fidelity Investments show that a 65-year-old couple retiring this year will need roughly $260,000 to cover health-care costs during retirement. That's 6 percent higher than its 2015 estimate and the highest since Fidelity began tracking such costs in 2002.