Insurance costs have surged during the pandemic, showing few signs of slowing down. Planning for retirement becomes challenging as costs keep increasing. Retirees need to keep an eye on rising insurance costs to secure their nest egg.

Healthcare expenses in retirement average nearly $200,000, with some couples needing up to $428,000 to cover costs. Enrolling in Medicare Advantage can help limit out-of-pocket expenses and provide additional benefits like discounted gym memberships.

Long-term care is not covered by Medicare and can get expensive quickly. Retirees can’t increase income to offset rising costs, leading them to cut spending elsewhere. Homeowners insurance premiums have increased by 74% in just one year, causing many to downgrade coverage or increase deductibles.

Homeowners insurance may influence where Americans choose to retire, with premiums varying by state. Some areas are becoming impractical to insure due to climate risks. State-backed insurance plans may end up billing taxpayers for uninsurable homes in high-risk areas.

Read more at Yahoo Finance: The No. 1 Cost Threatening Your Retirement Savings