For many people approaching retirement, healthcare is one of the biggest financial concerns. Rising medical costs, unexpected treatments, and the possibility of long-term care can create real uncertainty—especially when you’re trying to preserve savings and maintain your quality of life.
The truth is, healthcare expenses can disrupt even well-funded retirement plans if they’re not accounted for. With careful planning, you can minimize risks, gain confidence, and safeguard the financial base you’ve diligently built.
Healthcare planning is the process of preparing financially for medical-related expenses later in life. It involves more than just understanding your Medicare options. It’s about making intentional decisions—before retirement—so future care needs don’t place unnecessary strain on your savings.
A comprehensive healthcare plan typically includes:
Learn how to choose between Medicare Part A, B, C, and D based on your healthcare needs, budget, and preferred providers.
Consider Medigap or other supplemental insurance plans to help pay for costs Medicare doesn’t cover, like copays and deductibles.
Plan ahead for future care needs with long-term care insurance or savings strategies designed to protect your assets.
Get a clear picture of what you may spend on uncovered services like prescriptions, dental work, and vision care.
Maximize the benefits of your HSA by using it for qualified medical expenses and as a tax-advantaged retirement healthcare tool.
Healthcare planning doesn’t predict future medical needs—it prepares your finances to be ready for them.
Medical costs in retirement can be significant—and unpredictable. A single hospitalization or the need for extended care can quickly shift your financial picture if you haven’t prepared for it.
Here are a few scenarios where healthcare planning plays a vital role:
By thinking through these possibilities ahead of time, you can reduce financial stress later. Healthcare planning gives you the tools to approach retirement with greater clarity and confidence.
At Heritage Wealth, healthcare planning is part of the broader retirement strategy—not an afterthought. The team connects with clients to identify potential medical expenses, evaluate coverage options, and prepare for the unexpected so they can move forward with a sense of control.
This includes:
The goal is simple: help you make informed choices, reduce the likelihood of financial disruptions, and give you confidence that your plan supports all aspects of retirement—including health.
Based in Naperville, we also facilitate people from the following surrounding areas:
You don’t need to be close to retirement to start thinking about healthcare planning. In fact, many strategies are most effective when implemented early—before age 65.
Here are a few points to consider:
Even small, consistent steps now can help you avoid larger problems later. The earlier you address these questions, the more options you’ll have available.
Start by estimating your potential out-of-pocket costs, including insurance premiums, deductibles, and recurring medical expenses. Review options for supplemental insurance and long-term care coverage. Include these estimates in your retirement income plan so they don’t surprise you later. Future planning can help protect your savings and preserve flexibility.
Medicare covers many standard medical needs, including hospital stays and doctor visits. However, it does not cover dental, vision, hearing aids, or long-term care. Supplemental plans like Medigap or Medicare Advantage can help fill these gaps, but it’s important to understand the differences and costs before choosing a plan.
Long-term care—such as help with daily living activities at home or in a facility—is often overlooked until it’s needed. Since Medicare doesn’t cover this, families are left to pay out-of-pocket. Exploring long-term care insurance or setting aside savings specifically for this purpose can help protect your finances and reduce the burden on loved ones.
Healthcare costs shouldn’t catch you off guard. Heritage Wealth can help you plan for what lies ahead.
Call (630) 868-9127 or visit htgwealth.com to schedule a consultation.
Heritage Wealth LLC is a registered investment adviser in the State of Illinois and other states where it is appropriately registered. The Adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption
