According to Johns Hopkins University, 92% of people 80 and over have a chronic condition, and 73% have two or more. As financial advisors, we work to help you understand the true costs of healthcare expenses in retirement.

In this episode, Chip and Jon discuss why healthcare can be a wildcard in retirement. They start by asking four key questions: Do you understand the medical expenses associated with existing conditions? Have you thought about when you will start taking Medicare benefits? Are you familiar with what Medicare does and doesn’t cover? Do you have a plan for additional coverage outside of Medicare?

Figuring out who will cover costs, how to apply for coverage, and understanding your options can be daunting to do alone. Your advisor can explore your options and come up with a plan that fits your retirement goals.