MasterPlan Retirement Consultants

Helping You Navigate Towards Your Retirement Destination

Helping You Develop a Plan to Protect You and Your Family From Unexpected Health Care Expenses

Health care costs are often one of the biggest expenses faced by retirees. If not properly planned for, unexpected health care expenses can quickly erode your retirement savings. It’s important to have the proper insurance in place to protect your assets and your loved ones. We help assess your insurance needs and implement policies that make sense for you. 


We begin by conducting a review of your current health care situation and potential future needs. During this review, we consider:

Health Insurance Policies

Medicare Enrollment Options

Pharmacy Expenses

Potential need for long-term care and other types of senior care

We then develop a plan to help you prepare for medical expenses in retirement depending on your specific situation and needs.

What plans are available?

  • Long-Term Care Insurance (LTCI)

    An estimated 47% of men and 58% of women over age 65 will require some type of long-term care support in their lifetime.*  If not properly planned for, long-term care expenses can quickly deplete your retirement savings. Fortunately, long-term care insurance can help cover the cost of extended care should you or your spouse have ongoing medical issues. We can help you determine if LTCI makes sense for your particular situation. 


    *https://www.morningstar.com/articles/957487/must-know-statistics-about-long-term-care-2019-edition 

  • Health Savings Account (HSA)

    If you funded an HSA during your working years, those funds can be saved to cover medical expenses in retirement, including prescriptions, surgeries, doctor visits, glasses, hearing aides and more. 


    HSAs are a great way to save because they are triple tax advantaged:


    1. Contributions are tax deductible
    2. Assets grow tax free within the account
    3. Withdrawals are tax free

  • Medicare Supplement Insurance

    Many people find that Medicare’s coverage isn’t as comprehensive as they’d like. An options for this is to take out a Medicare supplement policy. This insurance can help pay for expenses such as copayments, coinsurance, deductibles and more.

  • Life Insurance

    Life insurance can help ensure your loved ones are provided for should you die unexpectedly.

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