Health care costs and the average lifespan are rising steadily. That’s why it’s important for you to have a health care planning strategy for your retirement years. One study1 examining Medicare recipients discovered that some couples could need as much as $370,000 for premiums and some out of pocket health care expenses, not including costs for long-term care.
1 Employee Benefits Research Institute (EBRI), Notes, Volume 38, No. 10, December 2017
Understanding your options as you approach retirement is key: Medicare is one option to know.
Medicare is the federal health insurance program for people who are 65 years or older. There are many components of the program you should become familiar with as you prepare for retirement.
The costs shown in the chart above are using today's premiums, but health care inflation has been on the rise. For future estimates, plan on adjusting these prices by 5-6% per year until you will need them.
At Alliance Advisory Group, we can help you make informed decisions when choosing healthcare options in conjunction with Medicare that can help you support your health as well as your wealth decisions. We have access to the leading healthcare providers in the regions we service that are able to offer plans and policies that most benefit your needs and wants. You don’t need to do it alone.
Everyone needs health insurance, and no one wants to be caught short entering retirement. Contact us today to learn more about the plans and policies that most benefit your needs and wants.