When people picture retirement expenses, travel often comes to mind — but for most retirees, healthcare is the single largest cost.
A 65-year-old couple retiring in 2019 could expect to spend around $285,000 on medical expenses throughout retirement, and some estimates push that figure closer to $390,000. That doesn’t include long-term care. For those considering early retirement, health insurance can be one of the biggest financial challenges once employer coverage ends.
Understanding Medicare, supplemental coverage, and out-of-pocket expenses is essential to building a realistic retirement plan.
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- 00:52Early retirement healthcare insurance challenges
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