Healthcare Costs in Retirement: How to Prepare for the Unexpected Now
Strategies to better prepare for rising medical costs
By Meagan Drew
Updated March 18, 2025
Fact checked by Suzanne Kvilhaug
Key Takeaways
Healthcare costs in retirement can have a significant financial impact, and proactive planning is essential to avoid unexpected expenses.
To plan effectively, estimating healthcare expenses based on individual circumstances is crucial, considering factors such as your current health status and lifestyle choices.
Saving and investing for healthcare expenses by utilizing tools like health savings accounts (HSAs) and long-term care insurance can help manage healthcare costs in retirement.
Having a contingency plan and adequate insurance coverage are vital for mitigating the financial impact of unexpected medical events.
Retirees should seek professional advice to help estimate and plan for healthcare costs.
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