15 Tips to Help You Manage Healthcare Costs

Healthcare is expensive. We all know that, but we don't always appreciate how much. For starters, per a 2021 report from Kalorama Information, consumer out-of-pocket spending on healthcare in the U.S. was expected to top $491 billion in 2021, or about $1,650 per person. That's up about 10% over the previous year, with further annual increases expected to be about 10% for the following five years. That's an average, so it means that plenty of people pay more than that.

It gets worse in retirement, as people age and develop more health issues. The folks at Fidelity, for example, estimate that a 65-year-old mixed-gender couple retiring this year can expect to pay a total of $315,000 out of pocket on healthcare throughout their retirement -- and that doesn't even include certain expenses, such as long-term care. Clearly, all of us should use any strategy we can to keep our costs in check. Here are 15 tips to help with that.

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