Health Care Coverage in Retirement

| April 9, 2019

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Spring vacation season is in full swing. Are you heading anywhere fabulous? Whether you’re visiting the beach or the mountains—or anywhere in between—there are lots of things to prepare before jet-setting to your destination. Buying tickets, planning itineraries, packing bags and finding a house sitter are just a few preparations that may be on your to-do list. Speaking of preparations, have you made preparing for your health care expenses in retirement a priority? You wouldn’t go on vacation without packing a bag—so why would you enter retirement without a plan for your health care? However, the unfortunate reality is that many people nearing or in retirement are unprepared for unexpected health care expenses. In celebration of National Retirement Planning Week, we’re going to share some important information on why it’s essential to plan for your health insurance in retirement, plus some insight to help get you started. Many Baby Boomers in or nearing retirement are unprepared for unexpected health care expenses. According to the new Bankers Life Center for a Secure Retirement Study, A Growing Urgency: Retirement Care Realities for Middle-Income Boomers, many middle-income Baby Boomers have limited savings to cover a financial emergency. Half (50%) of middle-income Boomers have less than $5,000 in savings set aside for a financial emergency. And one-third (30%) have less than $1,000.1.

Spotlight

Ontario Mutuals

Here's the difference between Ontario Mutuals and the large multi-national companies. Ontario Mutuals operate on a member value basis. That means we pour our resources into service and long term value for the policyholder - not returns for shareholders. As a policyholder, you have voting rights within the company on important decisions that will direct the successful operation of the company.

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Here's the difference between Ontario Mutuals and the large multi-national companies. Ontario Mutuals operate on a member value basis. That means we pour our resources into service and long term value for the policyholder - not returns for shareholders. As a policyholder, you have voting rights within the company on important decisions that will direct the successful operation of the company.

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