Healthcare Considerations



It’s never too early to start thinking and planning for retirement, especially when it comes to major expenses like healthcare. For one thing, Americans are living longer. Yes, increased longevity is wonderful, but it also comes with a greater risk of experiencing changes in health, which could mean greater expenses as healthcare costs rise. The fact is, even with insurance and Medicare, out-of-pocket healthcare costs in retirement can be expensive, with the potential to derail even the best-laid plans. Understanding potential costs, evaluating your options and developing a comprehensive plan that accounts for those expenses can help you achieve a secure, comfortable retirement.



Costs to take into consideration:



• Medicare premiums, deductibles and copays

• Supplemental coverage costs

• Prescription copays

• Hearing, dental and vision costs

• Long-term care insurance

• Other out-of-pocket expenses

To learn more read a white paper ​about how healthcare costs could affect your overall retirement income plan.











Married couples age 65 and over spent $7,600 a year on average for Medicare premiums and copays. That figure includes insurance premiums for Medicare Part B coverage and Part D prescription benefits, plus out-of-pocket expenses for copays, deductibles and miscellaneous home care costs. However, that average doesn't include any additional costs for treatment of chronic conditions such as heart disease, arthritis or diabetes; nor does it account for the cost of a nursing home or long-term care facility, which can be a major expense.







Source: Center for Retirement Research at Boston College, What is the Distribution of Lifetime Health Care Costs from Age 65? February 2010.