{
  "id": 19553869,
  "title": "5 Ways to Spend Less on Healthcare in Retirement",
  "url": "https://urgent.news/2026/11/11/5-ways-to-spend-less-on-healthcare-in-retirement",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T21:36:02.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/retirement/2026/11/11/5-ways-to-spend-less-on-healthcare-in-retirement/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "Retirement often brings the hope of enjoying the fruits of a lifetime's savings. However, one cost that can complicate this golden phase is healthcare. While Medicare offers coverage for those aged 65 and above, it doesn't erase healthcare expenses. On the contrary, healthcare can become a major expense, particularly for individuals managing chronic conditions. Here are five strategies to reduce these costs and safeguard your retirement funds.\n\nA common blunder retirees make is overlooking their initial Medicare enrollment period. This seven-month window, starting three months before and ending three months after a person's 65th birthday, is crucial. Delaying enrollment can lead to a 10% surcharge on Medicare Part B premiums for each subsequent 12-month period of coverage missed. This could result in significant additional costs over time. Certain exceptions exist for those still working with employer-sponsored health insurance, but it's essential to verify the creditability of this coverage before delaying enrollment.\n\nThe Medicare plan initially chosen might not remain the most economical choice over the long term. Medicare Advantage and Part D drug plans often alter their premiums, deductibles, and covered medications annually. Therefore, it's vital to assess these plans annually during open enrollment, which runs from October 15 to December 7 each year. When comparing plans, consider factors beyond just monthly premiums. For instance, Medicare Advantage plans may require using providers within a specific network, potentially leading to higher out-of-pocket costs or no coverage if out-of-network care is needed. Furthermore, certain procedures might necessitate prior authorization, and without it, you could face denials or unexpected bills. Thus, understanding your plan's rules can prevent unforeseen financial burdens.\n\nWhile original Medicare allows visits to any Medicare-participating provider, it often comes with high deductibles, coinsurance, and other out-of-pocket expenses. Enrolling in a Medigap policy during the six-month period beginning when one turns 65 and is enrolled in Medicare Part B can help cover these costs, offering predictability in budgeting for healthcare. This six-month window is crucial, as insurers cannot deny coverage or charge more based on preexisting conditions during this time. Additionally, when it comes to prescription drugs, it's wise not to assume the quoted price is the most affordable. Generic alternatives may be available at lower copays. Comparing prices at different pharmacies and exploring mail-order options can also lead to savings. Avoiding unnecessary healthcare costs is another key strategy. Understanding exactly what your Medicare plan covers is particularly important for those on Medicare Advantage, as these plans often have specific requirements that affect costs. For example, using out-of-network providers with these plans could result in higher expenses or no coverage.",
  "summary": "With the right strategy, you can keep your costs down.",
  "key_points": [
    "Delay Medicare enrollment to avoid 10% surcharge per 12-month missed period",
    "Review Medicare Advantage and Part D plans annually for potential savings",
    "Enroll in Medigap during six-month window post-Medicare Part B start to cover costs"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}