Kimberly Lankford: 5 ways to reduce retiree health care costs
Submitted By Anonymous, Created 06/25/2014 - 12:07
- Build tax-free retirement health care savings- You can’t contribute to a health savings account after you sign up for Medicare you can still use the money you have accumulated in the account
- Become a better health care shopper- If you have to pay any deductibles or co-payments yourself, you can save a lot of money by shopping for services
- Cut prescription drug costs- Medicare Part D prescription drug plans help reduce the cost of medications, but you’ll still need to pay for part of the cost in the “doughnut hole” coverage gap
- Find cheaper ways to fill the Medicare gaps- Most people cover the deductibles, co-payments and other gaps in Medicare with a Medicare supplement policy
- Have a plan for potential long-term-care costs- One big number the study doesn’t include is the potential cost of long-term care
Source: Kiplinger
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