Plan ahead for healthcare costs in retirement
Planning for retirement? Don’t forget health care. According to Fidelity Benefits Consulting, a 65-year-old couple retiring in the last year will spend $275,000 on health care, not including long-term care expenses.
This can be a real surprise for some consumers. There is a misconception that once a consumer reaches Medicare eligibility, there are no more out-of-pocket health care costs, but that is not the case.
Medicare does not cover everything, so planning ahead for health care expenses is a crucial part of a comprehensive retirement strategy. Here are three health care costs that can affect retirees.