Planning for a happy and healthy retirement goes beyond just saving and investing; it requires you to navigate a progressively complex landscape and make informed decisions along the way. One of the most critical decisions you need to make is how you will pay for health care once you’ve left the workforce. If you have already left the workforce is how will you continue to pay for health care.

According to the U.S. Centers for Medicare and Medicaid Services, the U.S. spends approximately $3.5 trillion a year on health care, or nearly $11,000 per person. Overall spending rose 4.6% in 2017, faster than the pace of inflation or wage growth. As spending rises, patients are also shouldering a larger share of treatment costs—driving up out-of-pocket expenses. The elderly, who require the most care, often bear the brunt of the costs.

Planning for a happy and healthy retirement goes beyond just saving and investing; it requires you to navigate a progressively complex landscape and make informed decisions along the way. One of the most critical decisions you need to make is how you will pay for health care once you’ve left the workforce. If you have already left the workforce is how will you continue to pay for health care.

According to the U.S. Centers for Medicare and Medicaid Services, the U.S. spends approximately $3.5 trillion a year on health care, or nearly $11,000 per person. Overall spending rose 4.6% in 2017, faster than the pace of inflation or wage growth. As spending rises, patients are also shouldering a larger share of treatment costs—driving up out-of-pocket expenses. The elderly, who require the most care, often bear the brunt of the costs.

The cost of healthcare is a common concern for most Americans. Health care costs are the #1 financial concern for people in their 50s and 60s. A combination of quickly rising health insurance costs and the potential for increased medical needs as you age can make planning for healthcare in retirement complex, unpredictable, and therefore, worrisome.