By Katrina Hernandez
When planning for retirement, many imagine a work-free life, fueled by tee times and vacations. However, for older adults dealing with the stress of rising medical costs and debt, this is far from reality. In fact, the 2018 Retirement Confidence Survey shows American retirees’ confidence in their ability to afford medical and long-term care expenses has decreased significantly in recent years, with four in 10 retirees reporting their health expenses being much higher than expected and one in four encountering increased costs for long-term care.
Despite boomers’ lack of confidence and continued stress, there are financial decisions that can be made to alleviate the burden of retirement–one of which is determining an end-of-life plan. For patients and their loved ones navigating retirement and the complex conversations surrounding medical bills and long-term care, here are four simple steps to consider in covering the costs of end-of-life-planning.[Read more…] about End-of-Life Planning: 4 Steps for Covering the Healthcare Cost Patients Can’t Afford to Ignore in 2019