re: How much money do people need to retire?

Two things:

1) Med supp plans for both you and your spouse once you turn 65. The most comprehensive plans limit out of pocket expenses for even the most extended hospital or skilled nursing stays, and also provide 50k in care for international travel. These are not Med advantage plans, In Fl they are around 200/month.

2) Long-term care or Life insurance with a Flexible care benefit rider. for example, you can purchase a Universal life policy with a FCB rider, and if you need care due to a disability, a terminal illness etc the policy will pay 2% of the face amount monthly until exhausted. For example, if you had a 500k policy, you could receive 10k/month for your care. Long term care plans are great too, but they are use it or lose it whereas Life policies will build cash value and still pay a death benefit.