How to Plan Now for Health Care Costs Later
No matter when you plan on retiring, health care costs impact your budget at every stage of life. Here is a list of some things to consider.
40s
• Maximize employer benefits
• Maximize health savings account (HSA) contributions for retirement saving
• Evaluate health care needs
50s
• Make catch-up HSA contributions starting at age 55
• Evaluate early retirement health care needs
• Evaluate health care needs
• Maximize HSA contributions
60s
• Continue HSA catch-up contributions until age 65
• Evaluate early retirement health care needs
• Use HSA savings to pay for long-term care or COBRA premiums
65+
• Choose a Medicare plan
• Sign up for Medicare Part D prescription drug coverage
• Understand retiree coverage from employer
• Use HSA savings to pay for Medicare premiums and outof-
pocket expenses
How will health care costs affect your retirement savings? Now
is the time to find out.
Please feel free to contact Cornerstone Wealth Management,
at 503-266-7431, to make plans for a healthy financial future.
Cornerstone Wealth Management
486 N.W. 2nd Ave,
Canby, OR 97013
503-266-7431
Securities and advisory services offered through LPL
Financial, a registered investment advisor. Member
FINRA/SIPC.
The opinions voiced in this material are for general information
only and are not intended to provide specific
advice or recommendations for any individual.
