On the 26th episode of the Retirement Explained show, I’m talking about how to prepare for your medical expenses during retirement.

Did you know that the average medical costs for a couple in retirement are nearly $300,000 throughout their life; It’s on average the largest expense most people encounter during retirement and I think it’s one of the least discussed aspects of retirement planning.

In today’s episode I touch on Medicare and understanding some of the costs of healthcare in retirement, including Medigap insurance. I also discuss what a Health Savings Account is and how it can come in handy for dealing with healthcare costs in retirement, and I spend some time on the importance of contesting the high-income surcharge on your Medicare Part B, a very underdiscussed item that most of us deal with.