Episode 11: Healthcare, Headaches, and How to Plan Smarter
In this episode of Retirement Roadtrip, we tackle the ripple effects of tariffs, the rising cost of goods, and the often-overlooked realities of Medicare. Greg and Tom break down why retirement planning isn’t just about your portfolio, it’s also about healthcare, hidden costs, and knowing what decisions will follow you for decades.
From navigating the Medicare alphabet soup to understanding IRMAA and the difference between skilled care and long-term care, this episode clears up the confusion and helps you plan smarter, whether you're nearing retirement or helping someone who is.
(00:09) How Tariffs Affect Your Wallet and the Market
Why tariffs are driving up prices and how to prepare
Greg’s take on supply chain shifts and inflation risk
The emotional side of financial decisions when uncertainty hits
(02:13) Emotions, Expectations, and Retirement Planning
Why market volatility feels personal and how to stay grounded
The danger of reacting emotionally to short-term shifts
(04:54) What Medicare Actually Covers (and What It Doesn’t)
Medicare Parts A (hospital), B (doctor), and D (prescriptions) explained
What Medicare covers (about 80%) and what’s left to you
Why most retirees still need a supplement or Advantage plan
(07:31) How to Enroll (Without Regret)
Medicare’s 7-month enrollment window: the 3-1-3 rule
When delaying Part B makes sense and when it doesn’t
Supplement vs. Advantage: what’s the real difference?
(10:33) The Truth About Medicare Advantage
What the ads don’t tell you about Part C plans
How provider networks limit your care
Why $200 in monthly savings might not be worth it
(13:06) Budgeting for Healthcare in Retirement
Medicare isn’t free, know your premiums, copays, and deductibles
Why turning 65 may lower your costs but not eliminate them
Planning ahead so you don’t feel the pinch later
(13:56) Medicaid & Long-Term Care
The brutal truth about Medicaid spend-down rules
What counts against you when applying
Why long-term care insurance is worth considering early
(15:47) Drug Costs and Part D
What Part D covers and what it doesn’t
The importance of checking your plan’s formulary
Hidden costs that can sneak up later
(18:27) Social Security, Inflation, and What’s Ahead
Understanding your benefit statement: is it adjusted for inflation?
Why Social Security isn’t “going away”
What future changes could look like and how to prepare
(24:10) Final Thoughts and What to Do Next
The value of a fiduciary financial advisor for retirement planning
How to avoid one-size-fits-all advice and build your own plan