Health Care Issues
- Factoring Health-Care Costs into Retirement Planning
There are many factors to consider in determining how much you'll need to save in order to enjoy a comfortable and financially secure retirement. One often overlooked retirement expense is the cost of health care. Without proper planning, health-care costs can sap retirement income in a hurry, leaving you financially strapped.
- Health insurance in retirement
Staying healthy and having health insurance are high priorities when you retire. As you approach retirement, you'll need to understand what Medicare covers and when you'll become eligible. You may want to consider supplemental insurance such as Medigap, which fills some of the gaps in Medicare coverage. If you're concerned about a prolonged stay in a nursing home sometime down the road, investigate long-term care insurance and Medicaid. You may want to consult a financial professional or an attorney who is experienced in Medicaid planning, too.
- Medicaid eligibility for nursing home care