​Risk management is always important, but it’s an even greater priority in retirement. Without the benefit of a regular paycheck, it could be difficult to bounce back from market downturns or costly emergencies. One sizable setback could be enough to derail your retirement plans.
 
One major risk you shouldn’t ignore in your planning is the impact of health care costs. Fidelity estimates that the average married couple will spend $275,000 on out-of-pocket health care expenses in retirement.1 That figure doesn’t even include long-term care, which can cost thousands of dollars per month and may be needed for several years.

​Approaching retirement? You likely have some big milestones ahead. One of the most important may be enrollment in Medicare. You’ve been paying into Medicare your entire career. Retirement is your opportunity to finally benefit from those contributions.

Medicare is a valuable service for retirees. It is generally available starting at your 65th birthday. Originally, Medicare simply provided coverage for hospitalizations. Over time, however, the program has become more robust and complex.
 
Today’s retirees face a wide range of choices and benefit options. Some come with added protection but also additional premiums. You may find it helpful to review your options and analyze your needs. By choosing the right protection package, you can minimize the impact health care has on your retirement assets.