Costs such as health care may be at the forefront of your mind if you are nearing retirement. You will have to plan for healthcare once your job no longer provides it, and healthcare costs are always significant. One portion of your healthcare costs you may not have considered is the hearing-related costs. When the cost-of-living evaluations for the United States were conducted recently, it was estimated that a couple retiring this year should expect medical costs totaling approximately $400,000 during retirement. Around 4% of those health-related costs will be out-of-pocket, and the rest is covered by insurance or Medicare.
These costs can vary by person and by location, but no matter your circumstances, there will be costs related to healthcare. Medicare and insurance will not cover all of your healthcare needs, and some things are often not covered at all: such as hearing aids.
Prepare Before You Retire
It is a good idea to prepare for the costs of retirement while you are still at your job. Accounts such as FSAs (flexible spending accounts) can be set up while you are working and can be used to purchase out-of-pocket health-related items for the next year using pre-tax dollars. Hearing aids are one of the items that are not covered by Medicare or most insurance policies after retirement. Your company may even match your contributions to your FSA account. That stretches your dollars much further!
If you are already retired, start by setting money aside in a dedicated account for healthcare expenses, so you will have money when you need it. On average, a 65-year-old couple in the U.S. will about $950 every month on health-related expenses. Of course, these costs may rise with age or if a specific medical need arises.
Prevention is Key
It is always a good idea to actively prevent disease by staying as healthy as possible with regular exercise and a balanced diet. Preventative measures can not only help to reduce medical costs during retirement, they will allow you to enjoy your “golden years” that much more as well.
Whole, unprocessed foods offer the best opportunity to maintain a healthy weight, a healthy heart, and a small waistline. Movement every day and staying away from cigarettes and alcohol are other key factors to keeping you healthy in the long term, and will keep your mind clear as well.
Regular movement–even if it’s just a daily walk in your neighborhood—helps to increase blood flow to every part of the body. Your ears are even affected by this circulation! Your inner ear contains delicate hair cells that assist your brain in the translation of outside noises into meaningful sound. These tiny hair cells rely on proper blood circulation for good hearing—so make sure to get moving every day!
Hearing Health and Retirement
Most of us experience some of hearing damage as we age, so don’t forget to always come in for yearly hearing evaluations. Hearing screenings are the best way to catch hearing loss early and prevent future damage. When caught early, hearing damage can often be slowed and future hearing loss can be avoided by using hearing devices or other interventions.
Your annual hearing screening is an easy, effortless way to save you a lot of trouble in the long run!
If you think you could have hearing loss, no matter what the cause, be sure to visit your audiologist immediately to prevent further damage. You may find a resolution that can inhibit or stop the development of hearing damage.
The first step to halting hearing loss and preventing further damage is to recognize your situation. Come in today for a hearing screening and formulate a strategy to train your brain to listen actively and effectively.
Diablo Hearing Services 2301 Camino Ramon, STE 106 San Ramon (925) 394-4646