Today's average senior citizen is in better health and is more active than seniors in any previous generation. However, there is a great deal of variability in the health of older people: many are fit, but others are mentally or physically incapacitated and require assistance for daily care. Some older people are afflicted by chronic conditions that require expensive medical attention. Even retirees who are relatively healthy for their age find themselves spending more time in doctors' offices and drugstores and undergoing expensive medical procedures to deal with an array of problems.

Compound increasing longevity with the erosion of employer-sponsored retiree health benefits and the increasingly complicated web that is our health care system, and it is no wonder that our clients need assistance with proper health care planning. In order to do this well you will need to know the client's options prior to retirement and after retirement. Additionally, having a discussion with clients about planning for incapacity and long-term care will demonstrate your knowledge and concern for them.

About the Author

David Mannaioni, CFP®, MPASSM is a professor at the College for Financial Planning. Utilizing his 30+ years of experience in the financial services industry, David also maintains a financial planning practice where he works with his clients in all areas of financial planning. In addition to his certifications, David holds life and health insurance licenses in several states, as well as the Series 6, Series 7, and Series 63 registrations with FINRA. You can contact David at

Complexity Level: Intermediate