Health care will probably be one of your biggest expenses in retirement. Private insurance and Medicare will help, but you’ll still have to pay a large portion of your health care costs out of your own pocket.
Here are some financial facts you may not know about Medicare:
- Medicare covers only about half of beneficiaries’ total health care costs1
- The higher your adjusted gross income, the higher your monthly Medicare premiums2
- Medicare generally does not pay for long-term care expenses2
It’s up to you to take control of your retirement health care costs with careful planning. With Nationwide’s Health Care in Retirement program, you and your financial advisor can create a plan for these expenses so you’re prepared for what comes next.
Nationwide Health Care Cost Assessment
Get a handle on your estimated health care costs in retirement by talking to your advisor about a Nationwide Health Care Cost Assessment. It’s a personalized report that is based on:
- Your current and expected retirement age
- Your personal and family health history
- Where you plan to retire
- Your expected income in retirement
The assessment can show you an estimate of your total retirement health care expenses including long-term care, helping you and your advisor build a plan to help cover those costs.