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Health Care Planning

Tackle rising healthcare costs head-on with a plan built to protect your hard-earned savings and ensure your health needs are covered into the future.

Comprehensive Healthcare Strategies for Retirement

Facing healthcare costs in retirement shouldn’t mean compromising your lifestyle or the legacy you intend to leave. At Nicholas Wealth Management, we craft healthcare strategies that protect your savings and ensure comprehensive coverage.

We’re here to help you navigate Medicare, manage long-term care costs, and safeguard against the unexpected, keeping your financial plan intact.

Medicare Guidance

We’ll help you navigate Medicare options effectively, so that you can choose coverage that aligns with both your healthcare needs and your financial plan.

Long-Term Care Planning

We’ll help you develop a strategy for long-term care that safeguards your assets and ensures you have access to the care you need, without compromising your financial goals.

Healthcare Cost Management

Our team works with you to make a plan to manage ongoing health care expenses, including strategies to mitigate the impact of rising costs on your retirement savings.

Insurance Evaluation

We’ll help you assess your current health insurance and long-term care policies to close any coverage gaps, finding plans that work for you throughout retirement.

Emergency Health Fund

We can help you establish a fund specifically for unexpected healthcare costs, providing a safety net that can improve your financial security.

Regular Healthcare Review

We’ll continuously update your healthcare strategy to reflect changes in health legislation, your personal health needs, and the overall healthcare landscape.


Medicare Part A (Hospital insurance) and Part B (Medical insurance) are available to Americans age 65 or older or those younger than 65 with a qualifying disability. It's important to sign up promptly to avoid gaps in coverage or late enrollment penalties. However, if you're already covered through an employer group health plan, it might make sense to delay Part B. If you are age 65 or older and receive Social Security benefits, you will be automatically enrolled in Part A.

Unfortunately long-term care won’t come cheap. Long-term care costs average $71,000 per year for home health care and $107,530 per year for a private room in a nursing home. By 2044 that cost could surge to $129,000 per year for home healthcare and $193,000 for a private room.

Source: Genworth Cost of Care Survey

If a time comes when you're unable to perform at least two of the six activities of daily living (ADLs) without assistance, long-term care (LTC) insurance can protect your savings and assets against the ever increasing cost of care.

The two main types of coverage are traditional and hybrid.

Traditional LTC policies pay a monthly or daily benefit amount over a set number of years, up to a lifetime maximum. Unfortunately premiums are not guaranteed and may increase in the future. If the policyholder never requires long-term care services, there is no way for them to recoup their investment or pass the benefit to someone else.

Hybrid LTC policies also pay a monthly or daily benefit amount over a set number of years (typically 4 - 6 years) but generally premiums on these policies are guaranteed to never increase. Another benefit is if the policyholder never uses the LTC policy in their lifetime, all the premiums paid into the policy are paid to their beneficiary as a tax-free death benefit. Nicholas Wealth generally prefers hybrid LTC policies over traditional LTC due to the guaranteed premiums and flexibility if care is not needed.

Long-term care insurance may be worth considering as 69% of people are likely to require long-term care services at some point in their lives. The average stay in a long-term care facility is about three years, with women generally needing care longer than men.

Source: U.S. Department of Health & Human Services

Keys to Health Care Planning

Long-Term Care Costs and How They Can Affect Your Retirement

Nicholas Wealth Office 10
Plan Ahead for Health Care in Retirement

Prepare for the complexities of healthcare costs with a strategic plan that protects your wealth and ensures comprehensive coverage. Our team is ready to guide you through every step.