The point of retirement planning is to enjoy your golden years, and you can do that more effectively if you aren’t worrying about how to cover medical expenses.
Health insurance should be as important as auto and homeowner’s coverage, if not more so. As an entrepreneur in the fields of finance and insurance, I’m always surprised when I work with professionals who haven’t considered the costs of their health coverage when they retire.
Equally concerning are estimates that the average 65-year-old couple can expect health care costs of more than $275,000 in their retirement years. Unless their retirement packages include ongoing coverage and they’re eligible for supplemental insurance, many people risk spending the bulk of their retirement savings on the aftermath of a major medical event.
With some careful planning, it’s possible to avoid that dreary future and focus on enjoying retirement rather than the effect of potential claims on a fragile nest egg. Read more