Uncover a Hidden Cost of Moving: Health Care
Don't Be Surprised By Differences in Health Care Costs
Have you looked at the potential increases — or savings— you may find in your new hometown? Health care costs in retirement are becoming more unpredictable as employers cut retiree health subsidies and health care costs climb. And don’t be fooled into thinking that because you are a Medicare beneficiary, the costs in various parts of the country will be the same. They won’t. There are vast differences in costs for Medicare related health plans such as Medicare Supplement and Medicare Advantage. So, if you’re planning on relocating in retirement, give the cost of health care the scrutiny it deserves.
A poll of adults ages 40 and older, conducted by Harris Interactive for Longevity Alliance, found that among adults not yet retired and likely to relocate at retirement about threefourths(76%) say the cost of healthcare is important or very important to their decision. However, overall cost of living(92%) and climate (81%) eclipse healthcare in importance. Only proximity to friends and family (49%) and ease of transportation (69%) ranked lower in importance among those planning to relocate.
If your retirement planning includes relocating, don’t let health care costs come as a surprise after you move. Here are three issues you want to explore about your healthcare before you move.
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