Health care is one of the largest expenses in one’s retirement years. Although most people know they will have health-care costs after they retire, it can be hard to quantify. While individual medical support varies, it is estimated that by age 65, a healthy couple will spend close to $13,000 on health care annually.1
Take steps to prepare for this future expense whether you are close to retirement or just starting your career.
As you get closer to retirement, it’s important to evaluate and familiarize yourself with Medicare Parts A, B and D as well as Medicare Advantage and supplemental coverage. For those who are still working and not enrolled in Medicare and your employer offers an HDHP, now is the time to open or add to an existing HSA. Even if you switch jobs, your HSA is portable and you can continue to contribute to your HSA as long as you are still enrolled in an HDHP.
No matter if you are just starting your career and looking to open or contribute to an HSA, or you are close to retirement and need help evaluating your health-care options, a Jemma Financial Advisor can help you make informed decisions. Contact us today to start a conversation.
1 RBC Wealth Management, 2022.
Need assistance? Call 855.662.2121 or email info@jemmafinancial.com
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IMPORTANT NOTICE
You are now leaving the Jemma Investment Advisors, LLC Website and will be entering the Charles Schwab & Co., Inc. ("Schwab") Website. Schwab is a registered broker-dealer, and is not affiliated with Jemma Investment Advisors, LLC, or any advisor(s) whose name(s) appears on this Website. Jemma Investment Advisors, LLC is independently owned and operated. Schwab neither endorses nor recommends Jemma Investment Advisors, LLC. Regardless of any referral or recommendation, Schwab does not endorse or recommend the investment strategy of any advisor. Schwab has agreements with Jemma Investment Advisors, LLC under which Schwab provides Jemma Investment Advisors, LLC with services related to your account. Schwab does not review the Jemma Investment Advisors, LLC Website, and makes no representation regarding the content of the Website. The information contained in the Jemma Investment Advisors, LLC Website should not be considered to be either a recommendation by Schwab or a solicitation of any offer to purchase or sell any securities.
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