It’s easy to assume Medicare will take care of all your health costs in retirement, but the reality is more complex. For someone retiring at 65 in 2026, average health care expenses are estimated at $185,500—far beyond what Medicare alone covers. I often hear from people who are surprised to learn that Original Medicare doesn’t include routine dental, vision exams for glasses, hearing aids, or long-term custodial care. Even with covered services, there are still out-of-pocket costs: for example, in 2026, the Part B premium is projected to be about $203 a month, plus a deductible and around 20% coinsurance. Higher incomes may also mean added surcharges.
If you’re approaching retirement, it’s important to review these gaps early. Take time to compare Medigap options during your one-time enrollment window, and consider using a health savings account to build up extra reserves before you become eligible. My approach is always to make these choices clear and manageable, so you can feel confident your coverage fits your real needs, not just what’s expected.
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