Health-care costs for retirees keep increasing and are up 29 percent since 2005, according to Fidelity’s "Retirement Health Care Cost Estimate" released Wednesday.

Costs have now risen to an estimated $245,000 throughout retirement for a couple where both spouses are 65 and are retiring this year, Fidelity says. Today’s cost is an increase from last year’s $220,000 and represents a 29 percent increase since 2005, when it was $190,000.

The sticker shock of $245,000 hopefully reinforces for many people that they need to act now, regardless of their age” to plan for health-care costs, says Brad Kimler, executive vice president of Fidelity’s Benefits Consulting Services. “For people offered a high-deductible health plan with a health savings account at work, choosing this option can really help them prepare, especially for millennials who have a long time to save.”

Factors boosting this year’s estimate include longer life expectancies and anticipated annual increases for medical and prescription expenses, Fidelity says. The estimate assumes enrollment in Medicare health coverage, but does not include the added expenses of nursing home or long-term care.

According to Fidelity, three-fourths of couples say being able to afford unexpected health care costs in retirement is their top concern, but only 22 percent of couples had factored it into their financial planning.

“People transitioning into retirement should seek help from trusted resources such as their retirement provider, employer or financial advisor,” says Kimler. “Important decisions on when to retire, how to manage debt or choosing health insurance will have a lasting impact.”