The Inflation Reduction Act (IRA) has introduced critical changes that will impact health care costs for retirees, especially those on Medicare. Understanding these provisions is essential to ensuring you’re prepared for future health expenses. 1. Lower Prescription Drug Costs One of the major provisions of the IRA is that Medicare can now negotiate drug prices…

Health care is one of the most significant costs retirees face. Failing to plan for rising medical expenses can lead to financial strain later in life. Here’s how you can prepare. 1. Estimate Your Future Health Care Costs The average retired couple may need around $315,000 to cover health care costs during retirement, according to…