Tips on Managing Health-Care Costs in Retirement
From picking the right health coverage and choosing the right providers to eating right and exercising, readers share a wide range of ideas.
Health problems can throw a wrench into anyone's financial plan, but for retirees there are special concerns. Aside from the obvious challenge of dealing with health issues as one ages, retirees must learn to navigate a health maze that can include Medicare, a supplemental insurance plan, prescription-drug costs, and other factors, and all while living within a budget defined by how much they've managed to sock away over the years.
Last week on Morningstar.com, we wrote about strategies retirees can use to manage new health-care costs (you'll find that article here) as well as how pre-retirees can get a handle on how much they will need for health-care costs once they stop working (found here). We also asked Morningstar.com readers who are retired or close to retirement to share tips about how they manage their health-care costs.