There are many different stages of retirement planning. While most people think about the financial aspects of planning, your health is also an important consideration, because healthcare costs in your senior years may significantly affect your finances, especially when Medicare alone doesn’t cover those expenses, such as:
Fortunately, there are several supplemental and private insurance options to cover some of these expenses. For the hearing, dental, and vision costs, Medicare Advantage and other private programs can help pick up where Medicare leaves off, so do some research and find the best options for you. Long-term care can be especially expensive, and so are private insurance plans that cover these expenses. When planning for the possibility of long-term medical care, consider health savings plan options as well as insurance choices. If you know which drugs you’ll need into retirement, you can follow a few tips to get a handle on prescription drug costs:
However, you may require new medications as you age, so look for insurance programs that offer the best overall coverage. Seek the advice of a professional financial counselor to be sure you’ve covered all the bases in your retirement planning program. And when it’s time to consider transitioning into senior assisted living, contact our helpful senior care professionals at Ashbridge Manor Senior Living. We can help make the transition easy. At Ashbridge Manor, our facilities and programs emphasize wellness, fun daily activities, and a welcoming sense of community. You can find us at 971 E. Lancaster Avenue in Downingtown, PA, call 610.269.8800, or contact us online for more information.