retirement

Managing health care in retirement

Trying to rein in rising health care costs is like trying to stop a rocket launch with kite string. And finding the money to pay for medical expenses and long-term care may seem equally futile. But it's a big issue that can affect the quality of your retirement.

The average American spent $2,664 on health care in 2005 (including prescription drugs and vitamins), a 3.5 percent increase over the previous year, according to the U.S. Bureau of Labor Statistics.

Not surprisingly, the tab for people 65 and older was much higher -- $4,193 on average.

So saving a pot of money in addition to your retirement nest egg could mean the difference between spending your retirement on the golf course and wrangling shopping carts in a parking lot for medical benefits. The key is to map out a plan and start now.

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Jill Cornfield

The Republican health care plan is out. Should you worry?

After years of hating on the Affordable Care Act and vowing to repeal it, the Republicans are finally getting their wish. House Republicans released long-awaited legislation to replace it on Monday, and now the bills head to committees so they can have a field day marking them up. Keep in mind, this is all still  ... Read more

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