We Baby Boomers are sometimes not well informed when we are planning our medical care especially when it comes to long-term medical care during our years spent in retirement.
We tend to put our hope and trust in Medicare which provides excellent health insurance. But it is not enough in paying for our medical costs. And doesn’t pay for long-term supports and services at all.
In a study by Fidelity Benefits Consulting, it is noted that a couple turning 65 today will pay an average of $220,000 in out-of-pocket medical costs before they die,