Should Your Retirement Planning Include Medicare?

Healthcare costs in retirement can be high, so only thinking about Medicare as health insurance can be a big mistake. Medicare helps cover hospital stays and medical services for those 65 and over. It also offers options like Medicare Advantage and prescription drug coverage. But the maze of options during initial and ongoing Medicare enrollment make it extremely complex, and every choice can have long-term implications, including financial ones.

“Many people underestimate the impact their Medicare choices can have on their retirement,” says John B. Leeming CFP®, president at JL Bainbridge.” Without proper planning, he adds, medical expenses can quickly drain retirement savings. And that doesn’t even include the significant annual financial penalties that can come from late enrollment. 

 Everyone wants to enjoy their retirement years without worrying about financial challenges. Like it or not, though, healthcare costs are simply part of the retirement experience. That’s why it makes sense to consider Medicare as part of one’s retirement and financial planning approach.

JL Bainbridge advisors are fiduciaries. They are required by the SEC to act first and foremost in their clients’ interests.

To learn more about JL Bainbridge or to set a time for your Free Financial Review, call (941)356-3435 or visit jlbainbridge.com. JL Bainbridge offers free in-person Medicare seminars in its office on Main Street in Sarasota. Visit “The Smart Way to Enroll in Medicare” to find available dates and times.

Disclosure: JL Bainbridge is a registered investment adviser. J.L. Bainbridge & Co., Inc., is not a broker dealer and does not offer tax or legal advice. Please consult your tax or legal advisor for assistance regarding your individual situation. Registration of an Investment Adviser does not imply any level of skill or training. It should neither be assumed that future results will be as profitable or that a loss could not be incurred. For more information on our firm and our investment advisor representatives, please review our Form ADV, Privacy Notice, and Form CRS at jlbainbridge.com and reference the SEC website for more information on the firm and its advisors: https://adviserinfo.sec.gov/firm/summary/108058. Identifying the SEC as our regulator does not imply any level of skill or training.     AD0524