If you’re lucky, your health care coverage will continue at your current rate once you retire. Perhaps you’ve been given the option to continue your employer health care plan at a new, higher rate. Or, you may have the option to join a rollover plan through your employer. Most people, however, don’t tend to start retirement with enough health care coverage.
Your Health and Dental Plan Doesn’t Have to Retire When You Do
The idea of finally retiring and being able to fill days with favourite hobbies and passions instead of work is something many of us dream about. But when that time finally arrives, there are practical things to consider. While you will have thought about how you’ll budget your expenses to live comfortably, do you have a health and dental plan in place?
Some employer-sponsored health care benefits continue into retirement.
The government will cover some health care expenses – but not all.
The good news is that government health care will continue covering things like doctor’s visits, emergency room visits, hospital stays, and some prescription drugs and dental surgery. That said, many other costs like prescription drugs, dental expenses and vision care may not be covered. These out-of-pocket expenses can quickly add up, making a sizable dent in a monthly budget. That’s where a personal health and dental plan can help.
A good health and dental plan can help cover many health-related expenses.
It’s no secret that we tend to require more health-related services as we age. That’s why personal health and dental plans may cover the following:
- Prescription drugs. If you or your spouse have ongoing prescriptions, this expense will continue at retirement.
- Dental expenses. Nobody can predict whether they’ll need a crown, but one thing is certain: major dental work is costly.
- Vision care. Your plan could cover glasses or contact lenses for you and your spouse.
- Hearing aids. Should you or your spouse require these in the future, the cost could be covered by a plan.
- Physiotherapy, registered massage therapists or chiropractors. Professional services like these could be covered by your plan.
- Medical equipment such as walkers and standard wheelchairs. There may come a time when you need help getting around.
- In-home personal care workers and registered nurses. As you age, you may require a little extra help at home.
With a personal health and dental plan, you only get the coverage you need.
A Licensed Life Insurance Advisor at CAA can help build a personal Health and Dental Insurance plan that’s right for you and your family. It’s complimentary advice without any pressure to buy. Connect with an Advisor by calling 1-888-444-6711, book an appointment online at a convenient time for you or visit here to get a quote.