/4 Ways to Keep Health Care Costs Down in Retirement

4 Ways to Keep Health Care Costs Down in Retirement

Are you worried about health care costs in retirement, then you’re not alone? Health care costs for retirees have skyrocketed to $285,000 – not including services Medicare covers.

However, CNBC’s Sharon Epperson and Jessica Dickler have a few insightful suggestions to mitigate future health care costs. (CNBC)

For starters, review your plan. There are lots of Medicare plans available, with different levels of coverage. For example, with Medicare Parts A and B, you can see any doctor who accepts Medicare, but with a Medicare Advantage plan, it will be less expensive if you see doctors and go to hospitals that are in the plan’s network.

Fund a health savings account. Get ahead of health-care costs by investing tax-free dollars in an HSA before you enroll in Medicare.

Manage your retirement income. Generally speaking, the more you make, the higher your premiums will be for Medicare Parts B and D.

Consider long-term care insurance. If you want to make sure you have funds to cover assisted living, nursing home or at-home care, look into buying a long-term care insurance policy.