Retiree Health Insurance: The Basics You Must Know

06/06/24 • 16 min

Candid Conversations: Retirement Talk with Ryan Cravitz

While you dream about the leisurely days ahead of you in retirement, it’s also important to think about some of the less glamorous items, including insurance. In this new season of life, your old policies may no longer suit your needs or may come to an end. So, what types of coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition?

Here’s some of what we discuss in this episode:

The surprise many people get when they see how much health insurance costs if you pay on your own.
Why might your health insurance change when you retire?
What you need to know about the Medicare enrollment process.
The different parts and deciding which you need.
You might need supplemental coverage because Medicare doesn’t cover everything.

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If you have any questions, you can contact us online here: https://cravitzfinancial.com/
Email: [email protected]
Call: 714-462-9155
Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Here’s some of what we discuss in this episode:

The surprise many people get when they see how much health insurance costs if you pay on your own.
Why might your health insurance change when you retire?
What you need to know about the Medicare enrollment process.
The different parts and deciding which you need.
You might need supplemental coverage because Medicare doesn’t cover everything.

Previous Episode

Don’t Make These Income Planning Mistakes

Are you planning for your retirement with the confidence that you're making all the right moves? With so many moving pieces in retirement, it takes detailed planning to cover all your bases, but it begins with building an income plan.

In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future.

Here’s what we discuss in this episode:

Don’t plan to be retired for years. Instead, plan to be retired for decades.
Why starting Social Security too early before you understand your options could cost you.
As you build your income plan, one expense that is easy to overlook is healthcare costs.
Why you need to factor inflation into your plan because your budget won’t be the same in 20 years.
Creating lifetime income streams other than Social Security.
Is now a time to consider moving money into an annuity?

Next Episode

Beware of Retirement Half-Truths

We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story.
On this episode, we’ll discuss a few examples that seem straightforward but have nuances that can significantly impact your retirement strategy.

Here are the half-truths we’ll explain in this episode:

Don’t worry about those losses because the market always goes up in the long run.
Diversification is the key in retirement planning.
You should withdraw 4% annually from your retirement savings.
Saving just enough to match your employer’s 401(k) contribution is sufficient.
You don’t need a retirement plan if you plan to work throughout retirement.