There are several steps to deal with rising healthcare costs in retirement. You might benefit from working longer to continue receiving subsidized health insurance from your employer. Also, you can contribute to a health savings account while you work if you have a high-deductible health plan. You can withdraw HSA funds in retirement tax-free for qualified medical expenses.
Opt to have any significant medical procedures you know you will need while still employed to optimize the use of your health coverage, said Laurie Kane Burkhardt, a certified financial planner with Modera Wealth Management in Boston. “Consult with health insurance experts to evaluate your choices for post-retirement insurance coverage and ensure that you select the best coverage for you,” she said.
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