Our daily roundup of retirement news your clients may be thinking about.

These unexpected costs could spoil your client's retirement
Nearly 37% of retirees polled by the Nationwide Retirement Institute claimed that they are not able to live the life they expected because of health issues, while 73% of long-time retirees say these problems hit them five years earlier than expected. Healthy retirees may even face health-related concerns if a spouse or an aging parent gets sick, an expert says. Retirees who are diagnosed with serious health concerns need to adjust their expectations on how they should spend their time and money, while those with no health issues may choose to consult with an adviser if it's possible for them to check off more of the things on their bucket list during their early years of retirement. — Money

Image: Bloomberg News
Image: Bloomberg News

How to increase the retirement age for clients who want to work
With life expectancy on the rise, boosting your client's retirement age may seem to be a logical step; however it could also hurt the retirement prospects of less-educated workers, according to Bloomberg. These workers may not have all the skill sets required by employers and can be found mostly in physically draining jobs. "A streamlined alternative would be to base the normal retirement age on a worker's occupation—raising it higher for deskbound jobs," the article states. — Bloomberg

Medicare rules for home health care
Medicare covers skilled nursing, physical therapy and other in-home services for seniors, but many patients are either denied the coverage or miss out on these services because they become confused with the eligibility requirements, according to this article on Kiplinger. In fact, a counsel says that "there’s a lot of subjectivity in some of the rules." Patients are entitled to Medicare home health care services if part-time skilled nursing, physical or occupational therapy, or speech-language pathology will be needed for their full recovery. These services are to be provided by a home health agency with Medicare certification under a care plan prepared by their physician. The doctor should issue a certification that the patients are homebound and that hospital stay is no longer necessary. — Kiplinger

Health savings accounts: A second retirement plan
A health savings account (HSA) is a savings vehicle that many retirement investors underutilize despite its tax advantages, according to CNBC. An expert points out that people can improve their retirement prospects by having 401(k) plans and HSAs, and that these accounts should be part of financial planners' recommendations to their clients. “The proper advice to some individual clients may be to maximize contributions to their HSA first and then contribute enough to their 401(k) to get the maximum employer contribution second — instead of the traditional advice to get the maximum employer 401(k) match first.” — CNBC

Study shows millennials better than boomers at retirement saving
Compared with baby boomers, millennials show better retirement-saving behavior, although they struggle to pay off debt, according to a survey. The poll found that 38% of young workers already know the amount of savings they will need to be able to retire, while millennials begin to appreciate the use of investment tools. Millennials can see their savings grow if they take advantage of these investing opportunities, says a financial planner. “So use the 401(k)s millennials, use your 403(b)s. Start to understand about Roth IRAs and those opportunities. And for goodness sakes, leave money alone once you put it in there and let’s let it grow.” — Fox Business