|Donald Jay Korn|
More seniors (61%) are concerned about
Further down the wall of worry are paying for long-term care (43%), paying for health care (41%), and outliving their money (38%), according to
“I don’t think it’s a big surprise,”
According to Walters, most seniors rely on
“They may see ensuring Medicare’s future as critical in making sure they have enough money to enjoy retirement,” she said. “Many seniors have already cut back on certain spending beyond health care to cover unexpected health care costs. They may be concerned that if there are changes to
Seniors’ interest in
For example, clients enrolled in
“Selecting appropriate coverage and actively managing costs (both premiums and out-of-pocket medical expenses)assists with asset protection,” Walters said.
If seniors don’t make good choices now, she said, they could miss an opportunity to improve their current coverage by seeing that their
“The best advice that a financial advisor can give about
Walters said it is vital to consider all of the costs associated with the plans; not just premiums, but changes in co-pays, deductibles, the donut hole and other out-of-pocket costs.
“Too many people simply look at new plans in comparison to their old
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