• Four Conversations About Future Medical Costs
• Three Health Topics to Consider

3 Health Care Topics to Consider

As health care costs continue to rise, many employers are reducing health care coverage or passing on more of the costs to their employees and retirees.

Yet a growing number of far-sighted employers are offering health and wellness programs to help their employees and retirees get and stay healthier – and reduce future medical expenses.

Know about your benefits

Be sure you understand your employer’s health-related benefits. Begin by talking with your human resources representative or benefits coordinator.

3 issues that you should address

1. Health coverage

• • Health risk assessments for each family member may help you anticipate expenses
  • Be sure you understand coverage, premiums, contributions, service providers and out-of-pocket maximums
  • If you’re healthy and usually have low medical expenses, consider a high-deductible plan to save money
    Expect and plan for unexpected medical costs
  • Determine whether long-term care insurance is appropriate based on your age, health, retirement income and assets

2. Health savings and spending accounts

Your employer may offer a tax-advantaged option for paying medical and dependent care expenses –– such as:

• • Flexible Spending Accounts (FSAs). Contributions are made pretax and can be used to pay qualified medical expenses. Plus, you can withdraw the full amount of the account on the first day of the plan year for qualified expenses
  • Dependent Care FSAs. Contributions are made pretax and can be used to pay child or dependent care expenses for children under age 13 or dependents, who are physically or mentally unable to care for themselves
  • Health Savings Accounts (HSAs). They may help you reduce taxes and set aside money for current and future qualified medical expenses, and are available with certain high-deductible health plans

3. Disability coverage

Disability insurance may help you pay bills while recuperating from an illness or injury. However, keep in mind:

• • It’s easier to get coverage if you enroll before you develop a chronic condition, such as diabetes or heart disease
  • Government programs, such as Social Security Disability Income, may not be sufficient to support you or your family

We’re here to help

Talk to an investment professional about more ways to plan for medical and health care expenses in retirement.

Don’t have an investment professional? We can help you find an investment professional and explain what you should expect when working with an investment professional.