Healthcare Cost Planning

Costs for everything from healthcare premiums and deductibles to co-pays and other out-of-pocket expenses continue to rise at hyperinflationary rates. With healthcare consuming so much of everyone’s annual budget, it makes sense to focus on ways to manage these expenses. At Seneca Financial Advisors, we have found that many of our clients appreciate help with choosing their healthcare plans, including Medicare and Medigap insurance. We can also connect you with specialists to help you make the right choices for healthcare coverage now and for the future.

In addition, because people are living longer, many of us will need supportive or long-term care (LTC) as we get older. LTC is especially helpful for people who have chronic health conditions and need assistance with the basic activities of daily living, from bathing and dressing to instrumental activities of daily living such as shopping, cooking, and housework. Ordinary insurance plans, including Medicare, usually do not cover long-term care.

Since LTC services can be very expensive when purchased out-of-pocket, more people are considering LTC insurance and other ways to finance this level of care. At Seneca Financial Advisors, we feel the purchase of a LTC insurance policy can be an excellent safeguard — but purchasing this type of policy can also be confusing. We will help you determine which policy features are most important for you when shopping for a LTC policy. Working with you, we:

  • Find the right health insurance, including High-Deductible Health Plans and Health Savings Accounts, for your family or small business
  • Plan for healthcare costs in retirement
  • Provide advice on selecting Medicare and Medigap plans that suit your needs and budget
  • Plan for long-term care services and costs
  • Offer advice on selecting providers to help you manage elder care
  • Provide a referral to a qualified insurance agent or consultant to assist with the purchase of insurance products