{"id":52,"date":"2023-02-15T21:09:09","date_gmt":"2023-02-15T21:09:09","guid":{"rendered":"https:\/\/adptsretirement.com\/retirementplanningguide\/?page_id=52"},"modified":"2023-03-16T17:59:37","modified_gmt":"2023-03-16T17:59:37","slug":"3-health-wellness","status":"publish","type":"page","link":"https:\/\/adptsretirement.com\/retirementplanningguide\/3-health-wellness\/","title":{"rendered":"3: Health &#038; Wellness"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row layout=&#8221;wide&#8221; css=&#8221;.vc_custom_1676643281185{border-bottom-width: 1px !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column offset=&#8221;vc_hidden-sm vc_hidden-xs&#8221;][layerslider_vc id=&#8221;4&#8243;][\/vc_column][\/vc_row][vc_row layout=&#8221;wide&#8221; css=&#8221;.vc_custom_1676643281185{border-bottom-width: 1px !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column offset=&#8221;vc_hidden-lg vc_hidden-md&#8221;][vc_single_image image=&#8221;560&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1676589745763{padding-top: 40px !important;padding-bottom: 10px !important;}&#8221;][vc_column][vc_column_text]\n<h4 style=\"line-height: 40px; font-size: 20px; color: #333333; text-align: left; margin-bottom: 20px;\">Making sure you have health care coverage that\u2019s the right fit for you and your spouse\/partner is an important step in preparing for your retirement. According to the Employee Benefit Research Institute, some couples could need as much as $360,000 for health care expenses during their retirement years.<sup>1<\/sup> <span style=\"color: #7967ae;\">Click on the \u25bc button below to evaluate your insurance options and understand how they work:<\/span><\/h4>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row gap=&#8221;35&#8243; css=&#8221;.vc_custom_1676592455643{padding-bottom: 20px !important;}&#8221;][vc_column width=&#8221;1\/2&#8243;][vc_tta_accordion style=&#8221;flat&#8221; shape=&#8221;square&#8221; gap=&#8221;20&#8243; c_icon=&#8221;triangle&#8221; active_section=&#8221;0&#8243; no_fill=&#8221;true&#8221; collapsible_all=&#8221;true&#8221;][vc_tta_section title=&#8221;<strong>Medicare<\/strong>&#8221; tab_id=&#8221;1676645512626-7e39a4a9-9be7&#8243;][vc_column_text]Whether you\u2019re new to Medicare, getting ready to turn 65, or preparing to retire, you\u2019ll need to make several important decisions about your health coverage. The first thing to do is go online to the Medicare <strong><a href=\"https:\/\/www.medicare.gov\" target=\"_blank\" rel=\"noopener\">website<\/a><\/strong> and learn about the A, B, C and Ds of Medicare coverage plans.<\/p>\n<p>The different parts of Medicare help cover specific services:<\/p>\n<ul>\n<li><strong><span style=\"color: #26328c;\">Part A<\/span><\/strong> (hospital insurance):<span class=\"Apple-converted-space\">\u00a0 <\/span>Helps cover:<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Inpatient care in hospitals,<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Skilled nursing facility care,<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Hospice care,<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Home health care.<\/li>\n<li><strong><span style=\"color: #26328c;\">Part B<\/span><\/strong> (medical insurance): Helps cover:<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Services from doctors and other health\u00a0care providers,<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Outpatient care,<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Home health care,<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Durable medical equipment (such as\u00a0wheelchairs, walkers, hospital beds, etc.),<br \/>\n<span style=\"color: #d0271d;\">\u2013<\/span> Many preventive services (such as screenings,\u00a0shots, vaccines and annual wellness visits).<\/li>\n<li><strong><span style=\"color: #26328c;\">Part C <\/span><\/strong>(Medicare advantage): Offers a bundled package that includes Parts A and B, and usually Part D.<\/li>\n<li><strong><span style=\"color: #26328c;\">Part D<\/span><\/strong> (Prescription drug coverage): Helps cover the cost of prescription drugs (including many recommended shots or vaccines).<\/li>\n<\/ul>\n<p>Original Medicare includes Parts A and B.<\/p>\n<p>Reminder if you wait to enroll, you may have to pay\u00a0a penalty, and you may have a gap in coverage.[\/vc_column_text][\/vc_tta_section][\/vc_tta_accordion][vc_tta_accordion style=&#8221;flat&#8221; shape=&#8221;square&#8221; gap=&#8221;20&#8243; c_icon=&#8221;triangle&#8221; active_section=&#8221;0&#8243; no_fill=&#8221;true&#8221; collapsible_all=&#8221;true&#8221;][vc_tta_section title=&#8221;<span style=``line-height: 1.3em``><strong>Medicare Supplemental Insurance (Medigap)<\/strong><\/span>&#8221; tab_id=&#8221;1676645686773-ff0006ee-2fc5&#8243;][vc_column_text css=&#8221;.vc_custom_1676646470869{padding-bottom: 20px !important;}&#8221;]Medigap is extra insurance that you can buy from a private company that helps fill in the \u201cgaps\u201d in Original Medicare \u2013 such as copayments, coinsurance and deductibles. Policies are standardized, and in most states named by letters, like Plan G or Plan K. The benefits in each lettered plan are the same, no matter which insurance company sells it.<\/p>\n<p>Click <strong><a href=\"https:\/\/www.medicare.gov\/supplements-other-insurance\/whats-medicare-supplement-insurance-medigap\" target=\"_blank\" rel=\"noopener\">here<\/a><\/strong> to learn more about Medigap.[\/vc_column_text][vc_row_inner css=&#8221;.vc_custom_1676591055003{margin-right: 1px !important;margin-left: 1px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 20px !important;padding-bottom: 20px !important;padding-left: 20px !important;background-color: #26328c !important;border-left-color: #d0271d !important;border-left-style: solid !important;border-right-color: #d0271d !important;border-right-style: solid !important;border-top-color: #d0271d !important;border-top-style: solid !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column_inner][vc_column_text]\n<h3 class=\"p1\"><strong><span style=\"color: #fde6da;\">Cost<\/span><\/strong><\/h3>\n<p><span style=\"color: #ffffff;\">Original Medicare doesn\u2019t pay any of the costs for you to get a Medigap policy. You have to pay the premiums for a Medigap policy. Insurance companies may charge different premiums for the same exact policy. Be sure you\u2019re comparing the same policy. For example, compare Plan A from one company with Plan A from another company.<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][\/vc_tta_accordion][vc_tta_accordion style=&#8221;flat&#8221; shape=&#8221;square&#8221; gap=&#8221;20&#8243; c_icon=&#8221;triangle&#8221; active_section=&#8221;0&#8243; no_fill=&#8221;true&#8221; collapsible_all=&#8221;true&#8221;][vc_tta_section title=&#8221;<strong>Long-term Care Insurance<\/strong>&#8221; tab_id=&#8221;1676646165868-a953d99b-0bcf&#8221;][vc_column_text css=&#8221;.vc_custom_1676646296729{padding-bottom: 10px !important;}&#8221;]It might be hard to imagine now, but chances are you\u2019ll need some help taking care of yourself later in life. The big question is: How will you pay for it?<\/p>\n<p>Buying long-term care insurance is one way to prepare. Long-term care refers to a host of services that aren\u2019t covered by regular health insurance. This includes assistance with routine daily activities, like bathing, dressing or getting in and out of bed.<\/p>\n<p>A long-term care insurance policy helps cover the costs of that care when you have a chronic medical condition, a disability or a disorder such as Alzheimer\u2019s disease. Most policies will reimburse you for care given in a variety of places, such as:[\/vc_column_text][vc_row_inner css=&#8221;.vc_custom_1676590680584{padding-bottom: 20px !important;}&#8221;][vc_column_inner width=&#8221;2\/5&#8243;][vc_column_text]\n<ul>\n<li>Your home<\/li>\n<li>A nursing home<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;3\/5&#8243;][vc_column_text]\n<ul>\n<li>An assisted living facility<\/li>\n<li>An adult day care center<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text css=&#8221;.vc_custom_1676591060884{padding-bottom: 20px !important;}&#8221;]Regular health insurance and Medicare do not cover long-term care. Medicare only covers short nursing home stays or limited amounts of home health care when you require skilled nursing or rehab only. It doesn\u2019t pay for custodial care, which includes supervision and help with day-to-day tasks.[\/vc_column_text][vc_row_inner css=&#8221;.vc_custom_1676591055003{margin-right: 1px !important;margin-left: 1px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 20px !important;padding-bottom: 20px !important;padding-left: 20px !important;background-color: #26328c !important;border-left-color: #d0271d !important;border-left-style: solid !important;border-right-color: #d0271d !important;border-right-style: solid !important;border-top-color: #d0271d !important;border-top-style: solid !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column_inner][vc_column_text]\n<p class=\"p1\"><span style=\"color: #fde6da;\">Nearly <strong><span style=\"color: #ffffff;\">70%<\/span><\/strong> of <strong><span style=\"color: #ffffff;\">65-year-old people<\/span><\/strong> will need <strong><span style=\"color: #ffffff;\">long-term care<\/span><\/strong> services or support. Women typically need care for an average of 3.7 years, while men require it for 2.2 years.<sup>3<\/sup><\/span><\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][\/vc_tta_accordion]<div class=\"separator  \" style=\"padding-top: 20px; \" ><hr class=\"blank_divider\" ><\/div>[\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_row_inner content_placement=&#8221;middle&#8221; css=&#8221;.vc_custom_1676594295300{border-top-width: 2px !important;border-right-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 20px !important;padding-left: 20px !important;background-color: #fde6da !important;border-left-color: #d0271d !important;border-left-style: solid !important;border-right-color: #d0271d !important;border-right-style: solid !important;border-top-color: #d0271d !important;border-top-style: solid !important;}&#8221;][vc_column_inner width=&#8221;1\/2&#8243;][vc_single_image image=&#8221;356&#8243; img_size=&#8221;medium&#8221; alignment=&#8221;center&#8221; css=&#8221;.vc_custom_1676593769857{padding-bottom: 10px !important;}&#8221;][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text css=&#8221;.vc_custom_1676593078009{padding-top: 10px !important;}&#8221;]\n<h5 style=\"line-height: 40px; font-size: 20px; color: #7967ae; text-align: left; margin-bottom: 20px;\">of retirees or their spouses will experience a <strong><span style=\"color: #d0271d;\">serious or chronic health problem<sup>2<\/sup><\/span><\/strong><\/h5>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1676594387318{border-right-width: 2px !important;border-left-width: 2px !important;background-color: #fde6da !important;border-left-color: #d0271d !important;border-left-style: solid !important;border-right-color: #d0271d !important;border-right-style: solid !important;}&#8221;][vc_column_inner offset=&#8221;vc_hidden-sm vc_hidden-xs&#8221;]<div class=\"separator  \"  ><hr class=\"solid\" style=\"border-color: #d0271d;\"><\/div>[vc_single_image image=&#8221;629&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; css=&#8221;.vc_custom_1678729660294{padding-top: 10px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1677020206462{padding-top: 10px !important;padding-right: 20px !important;padding-left: 20px !important;}&#8221;]\n<h5 style=\"line-height: 40px; font-size: 20px; color: #7967ae; margin-bottom: 20px; text-align: center;\">of Medicare beneficiaries\u00a0have at least one\u00a0<strong><span style=\"color: #d0271d;\">chronic health care condition<sup>2<\/sup><\/span><\/strong><\/h5>\n[\/vc_column_text]<div class=\"separator  \"  ><hr class=\"solid\" style=\"border-color: #d0271d;\"><\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1676594387318{border-right-width: 2px !important;border-left-width: 2px !important;background-color: #fde6da !important;border-left-color: #d0271d !important;border-left-style: solid !important;border-right-color: #d0271d !important;border-right-style: solid !important;}&#8221;][vc_column_inner offset=&#8221;vc_hidden-lg vc_hidden-md&#8221;]<div class=\"separator  \"  ><hr class=\"solid\" style=\"border-color: #d0271d;\"><\/div>[vc_single_image image=&#8221;633&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; css=&#8221;.vc_custom_1678728165001{padding-top: 20px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1677020206462{padding-top: 10px !important;padding-right: 20px !important;padding-left: 20px !important;}&#8221;]\n<h5 style=\"line-height: 40px; font-size: 20px; color: #7967ae; margin-bottom: 20px; text-align: center;\">of Medicare beneficiaries\u00a0have at least one\u00a0<strong><span style=\"color: #d0271d;\">chronic health care condition<sup>2<\/sup><\/span><\/strong><\/h5>\n[\/vc_column_text]<div class=\"separator  \"  ><hr class=\"solid\" style=\"border-color: #d0271d;\"><\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner content_placement=&#8221;middle&#8221; css=&#8221;.vc_custom_1678729763104{border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-right: 15px !important;padding-left: 20px !important;background-color: #fde6da !important;border-left-color: #d0271d !important;border-left-style: solid !important;border-right-color: #d0271d !important;border-right-style: solid !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column_inner width=&#8221;1\/2&#8243;][vc_single_image image=&#8221;361&#8243; img_size=&#8221;medium&#8221; alignment=&#8221;center&#8221; css=&#8221;.vc_custom_1676593779792{padding-bottom: 10px !important;}&#8221;][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text css=&#8221;.vc_custom_1676593057142{padding-top: 10px !important;}&#8221;]\n<h5 style=\"line-height: 40px; font-size: 20px; color: #7967ae; text-align: left; margin-bottom: 20px;\">of our nation\u2019s health care costs result directly from <strong><span style=\"color: #d0271d;\">chronic health care conditions<sup>2<\/sup><\/span><\/strong><\/h5>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1676594710759{padding-top: 25px !important;}&#8221;][vc_column_inner][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;.vc_custom_1676594041963{padding-bottom: 10px !important;}&#8221;]\n<h4><span style=\"color: #26328c;\"><strong>Key takeaways:<\/strong><\/span><\/h4>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1678989474543{padding-bottom: 40px !important;}&#8221;][vc_column width=&#8221;1\/2&#8243;][vc_column_text]\n<ul>\n<li>Use myOrangeMoney to model your retirement<\/li>\n<li>Go to the Medicare <a href=\"https:\/\/www.medicare.gov\" target=\"_blank\" rel=\"noopener\"><strong>website<\/strong><\/a> to learn more<\/li>\n<li>Play \u201cwhat if\u201d and evaluate all of your options<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]\n<ul>\n<li>Meet with a financial professional if you don\u2019t want to do it alone<\/li>\n<li>Ask a financial professional about what else you can do to make the most of your healthcare options in your financial plans<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1676571930371{border-top-width: 2px !important;padding-top: 30px !important;background-color: #121c4e !important;border-top-color: #d0271d !important;border-top-style: solid !important;}&#8221;][vc_column][vc_column_text css=&#8221;.vc_custom_1676572630604{padding-bottom: 20px !important;}&#8221;]\n<ol>\n<li style=\"font-size: 11pt; line-height: 18px; color: #ffffff; margin-bottom: 8px;\"><a href=\"https:\/\/www.ebri.org\/docs\/default-source\/ebri-issue-brief\/ebri_ib_549_savingstargets-13jan22.pdf?sfvrsn=67983b2f_2\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ffffff;\">https:\/\/www.ebri.org\/docs\/default-source\/ebri-issue-brief\/ebri_ib_549_savingstargets-13jan22.pdf?sfvrsn=67983b2f_2<\/span><\/a><\/li>\n<li style=\"font-size: 11pt; line-height: 18px; color: #ffffff; margin-bottom: 8px;\"><a href=\"https:\/\/www.cdc.gov\/chronicdisease\/about\/costs\/index.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ffffff;\">https:\/\/www.cdc.gov\/chronicdisease\/about\/costs\/index.htm<\/span><\/a><\/li>\n<li style=\"font-size: 11pt; line-height: 18px; color: #ffffff; margin-bottom: 8px;\"><a href=\"https:\/\/acl.gov\/ltc\/basic-needs\/how-much-care-will-you-need\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ffffff;\">https:\/\/acl.gov\/ltc\/basic-needs\/how-much-care-will-you-need<\/span><\/a><\/li>\n<\/ol>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1676571438123{padding-bottom: 40px !important;background-color: #121c4e !important;}&#8221;][vc_column][vc_column_text css=&#8221;.vc_custom_1677018802623{border-top-width: 1px !important;padding-top: 20px !important;border-top-color: #d0271d !important;border-top-style: solid !important;}&#8221;]<span style=\"color: #ffffff; font-size: 11pt;\">The information contained on this website is intended to summarize at a high level some of the provisions under the ADP TotalSource Retirement Savings Plan (the \u201cPlan\u201d). It is not intended to provide a full description of the Plan. In the event of a conflict between the official Plan document and this website, the official Plan document is controlling.<\/span><\/p>\n<p><span style=\"color: #ffffff; font-size: 11pt;\">Plan administrative services provided by Voya Institutional Plan Services, LLC (VIPS), a member of the Voya<sup>\u00ae<\/sup> family of companies.<\/span><\/p>\n<p><span style=\"color: #ffffff; font-size: 11pt;\">ADP, the ADP logo, ADP TotalSource and Always Designing for People are trademarks of ADP, Inc. Copyright \u00a9 2023 All rights reserved. <\/span><\/p>\n<p><span style=\"color: #ffffff; font-size: 11pt;\">\u00a9 2023 Voya Services Company. All rights reserved.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row layout=&#8221;wide&#8221; css=&#8221;.vc_custom_1676643281185{border-bottom-width: 1px !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column offset=&#8221;vc_hidden-sm vc_hidden-xs&#8221;][layerslider_vc id=&#8221;4&#8243;][\/vc_column][\/vc_row][vc_row layout=&#8221;wide&#8221; css=&#8221;.vc_custom_1676643281185{border-bottom-width: 1px !important;border-bottom-color: #d0271d !important;border-bottom-style: solid !important;}&#8221;][vc_column offset=&#8221;vc_hidden-lg vc_hidden-md&#8221;][vc_single_image image=&#8221;560&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1676589745763{padding-top: 40px !important;padding-bottom: 10px !important;}&#8221;][vc_column][vc_column_text] Making sure you have health care coverage that\u2019s the right fit for you and your spouse\/partner is an important step in preparing for your retirement. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-full.php","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"class_list":["post-52","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/pages\/52","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/comments?post=52"}],"version-history":[{"count":108,"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/pages\/52\/revisions"}],"predecessor-version":[{"id":815,"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/pages\/52\/revisions\/815"}],"wp:attachment":[{"href":"https:\/\/adptsretirement.com\/retirementplanningguide\/wp-json\/wp\/v2\/media?parent=52"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}