Navigating Healthcare Expenses in Retirement – America's Retirement Forum

About the Course

Nearly three out of every four affluent, older adults list rising healthcare costs as one of their top fears in retirement. And yet, planning for healthcare expenses in retirement gets more complex every year. This course will present foundational facts about Medicare, private insurance, and savings strategies you need to know in order to be prepared for what’s next.

“Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money.”

- Jonathan Clements

Course Outline

Trends in healthcare costs

The estimated cost of healthcare post age 65 is nearly $300,000 per couple.  How did we get here? This portion of the course will examine the brief history of healthcare inflation, recent reform, and what it means for adults who are looking towards retirement.

Understanding government programs

The Medicare program is notoriously complex. In this section of the course, we will go through a brief overview that covers the program’s history, structure, and funding. In our experience, most adults over-estimate what Medicare will cover — and are unprepared to fund additional healthcare expenses out of pocket.

Evaluating your financial healthcare needs in retirement

While nobody can predict the future with 100% certainty, it’s wise to develop an estimate of what your healthcare costs in retirement might look like. We will examine some of the Common health conditions that can result in higher healthcare costs in retirement, and go through a framework of assessing which health expense risk group you may belong 

Advanced strategies: Health Savings Account (HSA)

A Health Savings Account allows adults to set aside money for healthcare expenses. We will discuss the unique tax benefits associated with an HSA, as well as some of the advanced strategies that may allow you to stretch the use of this account beyond paying for healthcare — and potentially save on taxes.

Advanced strategies: Long Term Care Insurance

Long term care insurance policies have had a bad rep since their early days in the early 1990’s. Many of today’s pre-retirees still believe that long term care policies are too expensive, or that they won’t need long term care, or that they are sufficiently covered with Medicare. While a long term care policy isn’t right for everyone, each family should consider investigating this option before they rule it out. We will discuss the basics of long term care insurance and key questions to answer before deciding on a policy.

The importance of a solid financial plan

A peaceful retirement won’t take care of itself. In order to overcome the deck that’s been stacked against you, you need a plan.

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