Healthcare in Retirement: Building a Big Picture Plan™
When most people think about retirement, they picture travel, family, and time to finally slow down. But one of the most important — and most overlooked — parts of retirement planning is healthcare. Medicare, long-term care, and rising medical costs can reshape your financial picture, and ignoring them is one of the fastest ways to derail even the best retirement strategy.
Medicare provides an essential foundation, but it doesn’t cover everything. Prescription drug lists change, provider networks shift, and “$0 premium” Advantage plans often come with hidden costs like copays and coverage limits. On top of that, the government pays insurers a per-person subsidy — sometimes close to $1,000 a month — reminding us that this care isn’t free. Choosing the right plan each year is critical.
Then there’s long-term care. Nearly 7 in 10 retirees will need some form of help, yet many assume Medicare will pay for it. It doesn’t. From home health aides to assisted living to nursing homes, the costs are significant — and they vary by county. For example, Monroe County, NY, shows dramatically different price tags than the national averages. That’s why county-level data belongs in your planning.
Your healthcare strategy isn’t just about bills — it’s about independence, dignity, and choice. By making it part of your Big Picture Plan™, you ensure that your retirement isn’t left vulnerable to one of life’s biggest uncertainties.
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