Your Healthcare Retirement Plan


Prepare Your Healthcare Retirement Plan


When it comes to retirement, health insurance is one of the biggest expenses you’ll face. The average American family is facing a healthcare crisis of its own. While life expectancy has increased by almost a decade since the 1960s, retirement savings haven’t kept pace. That’s why many Americans are going to be forced to choose between retirement or healthcare in the near future.

At Colangelo Group our goal is to show you how you can prepare your own healthcare retirement plan. Social Security is one of the most important healthcare tools available to Americans today. However, what do you do when Social Security isn’t enough? Are you prepared for a lifetime of healthcare? The good news is there are plenty of ways to get ready, both socially and financially.

Let me help you get started on a better healthcare retirement plan today.

Steps You Can Take


You should consider the following when planning for your healthcare retirement plan:

Healthcare coverage. Learn whether you’re eligible for Medicare and how to enroll in it. You may also want to investigate other types of insurance, such as individual health insurance or COBRA.

Savings. Estimate how much you’ll need to save each year to pay for out-of-pocket medical costs and long-term care. If you haven’t saved enough money for these expenses, consider saving more money now or cutting back on discretionary spending in order to increase your savings rate.

Long-term care insurance (LTCI). This type of insurance covers home care and nursing home expenses, which may be necessary as you age or become disabled. The cost of LTCI policies can vary significantly depending on factors such as your age, health status and medical history — so it’s important to shop around for a policy that fits your needs at an affordable price (and understand what kinds of benefits are included). If you don’t have any other sources of income during retirement, consider purchasing LTCI sooner rather than later since premiums tend to increase with age.

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Rob Colangelo

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