Pre-Retirees: Plan now for health care costs

   If you’re getting close to retirement, you’ll have several financial issues to consider.
   But you’ll want to pay special attention to one of the most important of these: health-care costs.
   What should you do to prepare yourself for these expenses?
   Here’s one key move: Don’t overestimate the amount that Medicare will pay for your various medical expenses, as Medicare doesn’t cover everything.
   Between copays, deductibles and coinsurance, you’ll face out-of-pocket costs.
   Plus, you may need to add a supplemental policy, known as Medigap.
   Ultimately, you may need to budget between $4,500 to $6,500 per year for traditional medical expenses in retirement.
   But you should also be aware that Medicare typically pays very little of what may be the largest health care expense - long-term care.
   A private room in a nursing home can cost more than $100,000 per year, according to Genworth, an insurance company.
   A financial professional can recommend an appropriate protection vehicle to meet the costs of long-term care.
   When it comes to paying for health care, the fewer surprises, the better – so get the help you need and start planning now.
   This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC. 

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