Terry Bork CLU ChFC, President   |   Aurum Insurance Services   |   D: 440-605-7230   |   C: 440-666-6032   |   tbork@auruminsurance.com   |   www.auruminsurance.com

Plan For Health Care Costs In Retirement

Health care costs can be one of the largest expenses in retirement. While Medicare and Supplemental Insurance may pay part of the cost, significant expenses will be out of -pocket.

Studies show that out-of-pocket health care expenses for a 65 year old couple can reach $252,000-$395,000 over 20 years of retirement.

Adding to the challenge is the likelihood of needing long term care.

Studies indicate a person age 65 has a 70% chance of needing some type of long term care in retirement.

If these expenses and not planned for and properly funded, they can put pressure on other aspects of your retirement funding plan and dramatically impact your lifestyle choices.

How we can help

Use the Nationwide Health Care Cost Assessment to estimate your expected costs

  • Refine your retirement financial plan around this estimate
  • Plan for long-term care based on your needs
  • Cover gaps with new funding strategies.

The Nationwide® Health Care Cost Assessment takes information you provide about your health history and family background and compares it with current trends in health care utilization. The report you receive shows you a personalized view of your anticipated health care costs, including long-term care, throughout retirement.

Your personalized assessment can help you better understand how expected health care costs can affect your retirement, and enable you to plan accordingly.

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