3. Review Your Insurance Options
Medicare alone often isn’t enough. Consider:
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Medigap or Medicare Advantage: Can cover gaps basic Medicare doesn’t.
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Long-term care insurance: Protects against catastrophic costs.
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Health Savings Accounts (HSA): Triple-tax-advantaged accounts to save specifically for healthcare.
Quick Tip Today: Call your insurance provider or HR department and ask for a benefits review. Even 20 minutes can reveal coverage gaps.
4. Track Your Current Healthcare Spending
Even small, consistent tracking can reveal hidden leaks in your budget.
Quick Tip Today: Start a spreadsheet or budgeting app to record every medical, dental, or pharmacy expense this month. Compare it to what you think you’ll spend in retirement.
5. Start a Dedicated Health Fund
You don’t need a huge amount to start. Even $50 a month can grow over time.
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Set up a separate savings account labeled “Health Fund.”
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Make it automatic so you never forget.
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Treat it as untouchable except for healthcare emergencies.
