To see an estimate of your out of pocket health care costs;
For most of us in or near retirement we have visited a financial professional to either open up a brokerage account to trade stocks/bonds, to buy a mutual fund or to purchase some form of insurance like Whole Life, Term, or Disability, someone us even went as far to get advice.
This advice is meant to be what is best for us in the future, it is designed to be the ground work to a plan that will insure our retirement and we are supposed to check on the plan every so often to make sure we were on track.
Unfortunately, that plan is a disaster.
In the defense of the professional building the plan he/she gathered as much information as possible in order to create the best path for you to follow. They probably went as far as breaking down the grocery bill to be able to tell what peas will cost in the year 2055 and how many you will be able to buy.
But once in retirement, when we are no longer with the company, when we are no longer as healthy as we were a few years ago, that plan doesn't touch on the probably the biggest concern that we will face.
Health Care.As we are nearing retirement or even in it we are hit with the reality that we are no longer on our company's group plan and it's all up to us.
We have to register for Medicare Part A & Part B, we have to decide annually on which Part D plan matches with which medications we may be taking, along with trying to best select a Gap Policy that will hopefully cover everything else. Finally, we have to now try to figure out how much it's really going to cost and how we are going to pay for it all.The goal here is to educate the public of these health care costs and to provide information so everyone will be able to properly plan for their retirement while having an opportunity to enjoy a much deserved retirement.
We are looking forward to adding content as we grow and please feel free to send us questions and information.