Milliman produces estimates of retiree health costs that are updated each year. These estimates were developed for the purpose of educating employees and retirees about the potential cost of retiree healthcare. This white paper covers projected cost for a healthy 65-year-old and 45-year old couples retiring in 2021. It also discusses our estimate of the portion of social security benefits spent on healthcare, and the average premium plus out-of-pocket cost at age 65. The paper also includes our assumptions for each metric.