- An average 65-year-old retiring this year can expect to spend $157,500 to cover medical and health care expenses throughout retirement.
- Start planning for long-term care coverage now. For someone turning 65 today, there’s an almost 70% chance they'll require long-term care*.
- Medicare is unlikely to cover all the benefits you'll need. So, it's important to review the options available to help cover these costs.
- Health savings accounts can be used to pay for current health care costs. They can also be saved or invested for future health expenses.
- Consider working with a financial professional to help determine your potential health care costs and ways you can efficiently save for them.