4 healthcare costs in retirement no one warns you about

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4 healthcare costs in retirement no one warns you about
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Medicare usually doesn't pay for dental visits. Presented by brighthousefin

plan is free for most people over 65, there are still out-of-pocket costs, such as deductibles, copayments, and coinsurance, to factor in.

Experts recommend saving for these and other future medical costs in a health savings account . Available only through high deductible health plans , HSAs and are a triple tax-free investment account — contributions are made pretax; earnings and interest on investments are tax-free; and withdrawals made for qualified medical expenses are tax-free.

In 2019, a single person can contribute up to $3,500 and a married couple can contribute up to $7,000 to an HSA, plus a $1,000 catch-up contribution for folks over 55. Financial planner Eric Roberge and his wife Kaliand plan to leave the money untouched until retirement in order to"make the most of compounding returns," while using current income to cover medical expenses now.

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