Article Library

Category: Healthcare

Health care will cost this much in retirement — but probably even more

Alessandra Malito, MarketWatch, 08.08.2020

Don’t assume Medicare will completely cover your medical expenses in retirement. This estimate from Fidelity should eliminate any complacency!

Here’s What to Know If You Must Sign Up for Cobra Health Insurance

Veronica Dagher, Wall Street Journal, 05.07.2020

It goes without saying that healthcare coverage is important, and never more so than now. This article summarizes your healthcare insurance options should you be one of the many who have been laid off during this COVID-19 crisis.

Tiny Tax Moves Can Save You Big on Medicare Premiums

Laura Saunders, Wall Street Journal, 11.22.2019

For those yet to retire, achieving tax diversity of retirement savings can make mitigation of surcharges for Medicare and Social Security easier.

10 hidden pitfalls of health savings accounts

Andrea Coombes, MarketWatch, 07.04.2018

A useful recap of 10 key issues to bear in mind when thinking about Health Savings Accounts (HSAs).

Use caution when ditching your Advantage Plan for original Medicare

Sarah O’Brien, CNBC, 11.15.2018

Do your research before deciding to make a change to your Medicare coverage. There are pitfalls to avoid, such coverage for pre-existing conditions. Read on to learn more.

3 Under-discussed Ways to Use a Health Savings Account

Christine Benz, Morningstar, 10.18.2018

If you thought use of HSA accounts were restricted to just medical expenditures, read on to learn about three additional ways to use them.

Taking Your Lumps

Richard Quinn, Humble Dollar, 07.19.2018

We hear scary numbers bandied about regarding projected health care costs in retirement. They sound almost overwhelming. Richard Quinn puts them in perspective for us in this post. As with most issues related to retirement planning, sensible and steady ongoing action can set you up nicely to deal with this challenge.

Don’t ignore this gap when signing up for Medicare

Sarah O’Brien, CNBC, 02.21.2018

Don’t put off tackling your healthcare decisions if you’re approaching Medicare eligibility. The first six months on Medicare is critical. 

Hybrid Long-Term Care Insurance Policies

Wade Pfau, Forbes, 01.21.2016

Nursing home care can decimate assets if not planned for correctly. Remember, Medicare doesn’t cover it. Medicaid does, but eligibility is limited to those who are largely out of other financial resources, and it can target your house or estate to recoup outlays. A good financial plan will consider this risk. The various solutions include trusts, insurance, and self-funding. Hybrid long-term care (LTC) policies—that can pay a death benefit—have emerged as an alternative to traditional LTC insurance, which has some drawbacks. A fee-only financial planner can help you evaluate your options. 

Health savings account contributions can boost your retirement

Tom Anderson, CNBC, 05.12.2017

The triple tax advantages of Health Savings Accounts, and penalty free withdrawal for non-health care related spending after 65, makes them a very attractive savings vehicle for Americans. As mentioned in the article, Fidelity estimates a 65 year old couple retiring in 2016 can expect to spend roughly $260,000 on health care in retirement. So why not ensure that spend is tax free? Read on for more detail.