Ask The Banker: Health insurance after retirement

Once you reach retirement age, there are many ways to approach health insurance.

Posted: Nov 19, 2018 6:48 PM

EUGENE, Ore. -- Once you reach retirement age, there are many ways to approach health insurance.

KEZI 9 News spoke to Oregon Pacific Bank President and CEO Ron Green to learn more.

How should we approach health insurance after we retire?

First off, you might be of retirement age and eligible for Medicare. The current age threshold for Medicare is 65.

The question is whether to purchase supplemental insurance on top of that.

For the best advice on that, Green recommends aligning yourself with a great insurance agent or a local brokerage that could help. There are tremendous professionals in all the communities that Oregon Pacific Bank serves.

Generally speaking, Green’s advice is to keep yourself healthy. Are you eating well? Do you sleep well? Are you exercising? Your overall physical condition is going to drive the kind of insurance you can get and perhaps the cost.

Green also recommends considering whether you’re willing to compromise on a high deductible or high out-of-pocket maximum for a lower premium.

All of those things will factor into your monthly cost.

If you have a banking or finance question for Ron Green, click here

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