Are you completely covered? Many people believe they are covered with basic healthcare or Medicare options, but that isn’t always the case. These combined with life insurance will not be enough to cover you as you plan for retirement. The gaps in your healthcare coverage can make a huge impact on your future life planning, because basic healthcare and Medicare won’t cover things like extended care.
Longevity Health Planning encompasses extended care and acute care. Our umbrella conceptually illustrates where the gaps are in your healthcare plan.
Extended care encompasses a large range of scenarios. It can include final expenses like medical costs or hospice care, Memory care and assisted living communities, adult day care, and skilled nursing care. Extended care can even mean homecare -- like homemaker services and home health care. These are not generally covered in basic healthcare or Medicare, and they are why making sure knowing your options in longevity healthcare planning is so important.
There are several services that are covered under acute care like primary/specialty physicians, dental, vision, and hearing services, prescriptions, diagnostics & labs, outpatient medical and surgical, durable medical equipment, and inpatient hospital. Depending on your health care coverage due to deductibles and share of cost provisions there can be financial gaps for these medical services.
When you have reached retirement, we want to help you ensure you are set up financially well. Part of doing this means protecting the four L’s of retirement with the 5th L: Longevity Health Planning. When you have the four L’s and protect them with Longevity Health Planning, you will have a good foundation for your retirement plan.
It is important to have the ability to liquidate assets if you ever need them. This means a portion of retirement funds should be held in accounts that can be accessed quickly when there is an immediate need for cash. Protecting your retirement means having the funds available, should you ever need them. While basic healthcare does not offer this kind of coverage, longevity health planning can allow you to do just that.
Your healthcare plan should work for you in the long run. Running out of money is many retirees’ greatest fear. Extending retirement dollars for a lifetime and beyond is a key goal of any planning strategy. You don’t want to deal with the gaps in your healthcare plan that might come up down the road due to a lack of planning.
Protecting your retirement means protecting your lifestyle. What would happen to you or your family if you needed extended care? You will want your lifestyle and your family’s way of life to remain the same, no matter what happens. Being able to sustain a desired lifestyle is the main objective of any retirement plan.
What kind of legacy are you planning on leaving behind? Protecting your retirement with longevity health planning is one way you can ensure you leave behind the legacy you want. If all of the above are positioned well, the remaining balance of your estate can be passed to the next generations upon your death.
It is important to protect your income, no matter what stage of life you are in. While income protection planning is a youthful protection of your income, it leads into longevity health planning as the years progress. Longevity health planning becomes essential for your retirement years, and it is important to continue to protect your greatest asset: YOU. Longevity health planning allows you to fill in the gaps found in health insurance and Medicare.
Clear Solutions Insurance Services is here to educate and empower you with income protection planning, providing you with the proper confidence, knowledge, and tools to help protect your greatest asset: you.
You also get access to our FREE online eligibility assessment tool and direct access to Tom to answer your questions and help with coaching if you desire.
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