Begin with the expenses you can reasonably anticipate, including Medicare premiums, supplemental coverage, prescriptions, routine care and dental or vision services.

Review the details of your health insurance, Medicare elections, life insurance and long-term care benefits.

Pay close attention to exclusions, waiting periods, benefit limits and the conditions that must be met before coverage begins. A policy provides limited value if you or the person managing your affairs does not understand how to access its benefits.

Some retirees prefer to designate specific savings for medical expenses. Others incorporate health care into a broader reserve or income plan.

Depending on eligibility and individual circumstances, a Health Savings Account may also offer tax advantages when funds are used for qualified medical expenses. Tax rules and account requirements should be reviewed with an appropriate professional.

Regardless of the vehicle used, health care funds should be positioned with the expected timing of withdrawals and the need for liquidity in mind.

The account used to pay a medical expense can affect the amount you ultimately need to withdraw.

Distributions from tax-deferred retirement accounts may create taxable income. Large withdrawals can also interact with other elements of a retirement plan, including Medicare premiums and taxation of Social Security benefits.

A coordinated withdrawal strategy can help determine which accounts to use, when to use them and how to avoid creating unnecessary secondary costs.

Your spouse, adult children or other trusted decision-makers should know what coverage you have, where documents are stored and whom to contact.

This is also an appropriate time to review powers of attorney, health care directives and beneficiary designations with qualified legal and financial professionals.

Clear documentation can reduce confusion during an already difficult period.