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Health care and retirement

Health care cost planning, optimized

Use our free Health Care Cost Estimator tool to help give clients confidence in their retirement plans.

Use the Estimator

Help clients plan and budget for health care costs in retirement

Investing in your health care acumen can lead to wealthier clients who, in turn, entrust you with greater assets. Help ease clients' concerns and potentially save them money by making health care integral to your planning conversations. Explore key themes of budgeting, funding, and possible long-term care in our detailed advisor's action guide.

Budgeting

Encourage clients to treat health care as a regular budget item. As they age, health care costs may increase, but other expenses typically decrease. 

Funding

Review with clients their options to pay for health care costs, including those they might incur before Medicare eligibility. 

Discuss long-term care costs

Engage clients on the possibility that they might require long-term care. Guide them in considering and planning for different scenarios. 

Know key players, potential partners

Get familiar with local or national Medicare and health care brokers, as well as your state-specific State Health Insurance Program (SHIP). 

Generate personalized health care cost estimates

We built the Health Care Cost Estimator in partnership with leading benefits provider, Mercer. Use the tool for pre-retirees who are planning their health care costs. 

Printable results are adjusted for location and include costs for the first year of pre-Medicare and Medicare as well as the estimated cost of lifetime long-term care. 

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Health care expenses in retirement
Show clients how they can prepare for health care expenses

Share and review the guide Plan your retirement health care expenses down to size with clients, introducing them to the key concepts of planning for health care costs in retirement. 

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Provide clients a deeper look based on their needs 

Below are helpful guides you can share with your clients to help educate them on the ins and outs of health care cost planning in retirement. 

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  • HSA: Health account with a powerful wealth-building benefit

    Show clients the potentially significant wealth-accumulation aspect of health savings accounts when used as tax-advantaged investment accounts.

  • Pre-Medicare Health Care Planning

    Some of your clients will retire before they are eligible for Medicare. Share with them their options for health care coverage once they are no longer on an employer's plan. 

  • Making sense of Medicare's parts

    Medicare can be confusing because of its numerous parts. This guide demystifies the program and can help your clients make the best choice for their needs.

  • Understanding Medicare choices

    Clients can learn the features and requirements of Medicare before signing up, so they are set up for success when they become eligible.

  • To prepare for long-term care expenses

    Guide clients to consider the probability of needing long-term care eventually. From there, they can plan for the potential long-term care options that make sense for their circumstances.

  • Understanding advance care planning

    Familiarize clients with the proactive legal and medical steps they can take to hedge the risk of becoming incapacitated.

  • Meet IRMAA—Medicare's income-related monthly adjustment amount

    Make sure clients are aware of the income limits before incurring this upcharge on their Medicare premiums.

WEBINARS

View our health care event online and earn CE credit

Become your clients' trusted resource on how they can afford their retirement health care costs. 

Obtain the know-how to give your clients confidence as they navigate the money aspect of health care in retirement. Planning for those costs ahead of time is crucial, and the Vanguard webinar Elevate your practice: Guiding proactive health care conversations can show you how.

Learn more at the event

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Julia Fuentes 

Financial Planning & Coaching Strategist, Vanguard Financial Advisor Services™

Featured insights on retirement health care planning

 

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Have questions about investing for health care costs in retirement? Contact us.

Let us help you put your clients at ease as you prepare for their health care costs alongside their retirement planning.

Notes

The information contained in this website is for informational and educational purposes only. The information on this website does not constitute financial, investment, legal, or tax advice. Please consult with an attorney or tax professional for your specific situation.