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Healthcare Costs are on the Rise
Healthcare expenses are the number one concern for retirees1
Do you know how much healthcare will cost during your retirement? Healthcare can be one of the biggest expenses in retirement and one you may be underestimating. In fact, as of 2015, a married couple age 85 and older on average can expect to spend $13,088 annually in out-of-pocket medical expenses.2
Medicare can be overwhelming with all of the options, plans, and decisions. It is important to understand these decisions so you make the best most cost efficient choice.
The best way to make the right decisions is to start planning before you are eligible for Medicare when you turn 65. The first step is to understand Medicare, then study your options and costs, and then create a plan.
A Medicare plan should include an analysis of your health, available assets and income. For example, incorporating your assets into the plan strategy can help lower your ongoing costs significantly.
At Klauenberg Retirement Solutions, LLC, as part of our Retirement Wealth Management, we complete a health care plan before you are 65. We review all Medicare Supplement company plans and offers to find the right plan that fits your retirement plan. We also analyze the need for Long Term Care.
Long Term Care
Having a Retirement Income Plan that appears to cover all of your daily expenses may seem complete. But it is not. It's incomplete because an accident or unplanned change in health may require long-term care. If that happens, plans, hopes, dreams and savings could quickly go up in smoke.
Simply stated, guarding against the costs of unplanned long term care should be a primary concern for Boomers. The reason is clear. After age 65, the need for some form of long term care will affect about two-thirds of us3.