The average couple will spend $280,000 in healthcare costs if they retire at age 65 — a staggering number for those looking forward to their golden years. So what can you do to help prepare yourself? How can you be ready for any unexpected health care costs during retirement?
What can I do to reduce my retirement healthcare costs?
Anyone looking towards retirement may have anxiety. You might have questions about your health and finances— no matter what your age. And while there are many things that must be considered when planning for retirement, your health is something that can’t be overlooked, especially because rising healthcare costs can often drain retirement money quickly.
There are many preventative steps you can take to ensure that you minimize health care costs during retirement, which means looking for ways to improve your overall health and reduce your risk for disease- even now. That’s why it’s important to have your annual checkups with your healthcare provider and to live a healthy, active lifestyle.
Other steps you can take to reduce potential healthcare costs during retirement include:
- Seek out preventative health services, including getting all your immunizations.
- Know and understand Medicare policies and costs to avoid unexpected costs and expenses.
- Learn how to manage any chronic conditions you have now to reduce costs later.
- Reduce your risk of falling — especially since falls can cause major problems for older adults including serious injuries or even disabilities.
- Have your driving skills assessed — in 2015, car accidents resulted in more than 260,000 emergency department visits for older adults, according to the Centers for Disease Control and Prevention.
- Prepare a living will and arrange for power of attorney. Make your wishes known to family members before a crisis happens.
Where can I get help preparing for retirement?
Since preparing for retirement can be overwhelming, it’s a good idea to reach out for help and advice. In addition to seeking counsel from retirement planners, you can also look for local classes through different organizations on how to get ready for retirement.
University Health System offers a Platinum U Senior Health Program that offers comprehensive senior health services for those that are age 60 or over. Some of the services offer include:
- Annual health and wellness checkups
- Advance care planning classes
- Ask the expert/community events
- Medicare information sessions
- Access to fitness center
Join us at the upcoming We Love Our Seniors health fair from 9-11 a.m. on Friday, Sept. 28, 2018, at the University Family Health Care Southwest Clinic, 2121 SW 36th Street, San Antonio. We will have healthcare screenings, Medicare information, a clinic tour and more! Call 210-358-7477 for more information.
