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Navigating health care and long-term care costs is one of the most critical components of retirement planning , yet it’s often the most underestimated. Many retirees believe that Medicare will cover all their medical expenses, only to discover that this coverage is far from comprehensive. From premiums and copays to prescriptions and long-term care, the costs can quickly add up — posing a serious threat to even the most carefully planned retirement budget.

At a Glance:

Retirees may spend over $300,000 on health care alone

Medicare covers limited expenses, excluding long-term care

Long-term care costs can quickly deplete retirement savings

Early planning and insurance strategies help protect assets

Health care costs alone can be staggering. According to

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