People who retire at the age of 65 need anywhere from $189,687-$214,565, on average, to pay for healthcare costs not covered by insurance.
Most people think that Medicare will cover all their needs. This is not the case. You still need to pay for premiums, deductibles, and co-pays. If you need coverage for prescription drugs, dental, vision, or hearing care, you pay out of pocket or you have to buy additional insurance.
This can all be overwhelming when thinking about how you can possibly afford health care during retirement. But, here are ways to prepare for your health care costs:
-Create an account solely for healthcare-investment
-Think about investing in long term care insurance
-Practice a healthy lifestyle
Contact Cosmo Insurance
Preparing for your retirement savings is crucial. Contact Cosmo Insurance to learn about health insurance and life insurance plans. Cosmo has brokers who know everything there is to know about insurance plans. We can guide you to choosing the right plan based on your needs.
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