FACTOR HEALTH CARE COST INTO YOUR INCOME PLANNING
Once you understand your health insurance options, you can factor insurance premiums – along with co- pays and prescription costs – into your income planning. Budget for these items just as you would housing and food expenses. You want to look closely at your anticipated medical costs as part of your larger income planning goal, because they are an important and essential expense in retirement.
1 Planning for Health Care Costs in Retirement: A 2014 Survey of 50+ Workers, AARP Research, October 2014 2 Fidelity Estimates Couples Retiring in 2013 Will Need $220,000 to Pay Medical Expenses Throughout Retirement, Fidelity.com, May 15, 2013
Contact a Commerce Trust professional to develop a strategy for your health care expenses in retirement. 1-855-295-7821 | commercetrustcompany.com
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