Is the Healthcare System Working Against You? With Dr. Jordan Grumet

Learn how healthcare choices, Medicare decisions, and provider incentives can affect your retirement plan and help you become a more informed healthcare consumer.

When people think about retirement planning, they often focus on investment returns, taxes, and when to claim Social Security. Those are certainly important decisions, but there’s another area that deserves just as much attention: healthcare.

For many retirees, healthcare becomes one of the largest ongoing expenses they’ll face. Just as importantly, the quality and accessibility of that care can have a significant impact on retirement itself. The right healthcare decisions can help preserve both your finances and your quality of life.

I’ve found that the best retirement plans don’t simply prepare for healthcare costs—they prepare retirees to become informed healthcare consumers.

Recently, physician and hospice doctor Dr. Jordan Grumet shared his perspective on how today’s healthcare system has evolved and why understanding the incentives behind it can help patients make better decisions.

Whether you agree with every conclusion or not, his observations raise important questions every retiree should consider.

Healthcare Isn’t Just About Medicine

Healthcare is often viewed as a relationship between a patient and a physician.

In reality, today’s system involves many additional participants—including insurance companies, pharmaceutical manufacturers, hospital systems, private equity firms, and government programs. Each plays a role in how care is delivered.

Dr. Grumet argues that one of the biggest changes over the past several decades has been the increasing influence of organizations whose primary responsibility is financial performance rather than patient care.

His concern isn’t that businesses should never participate in healthcare. Rather, he believes retirees should understand how financial incentives can influence everything from appointment availability to treatment options.

Understanding those incentives can help you ask better questions when choosing providers and evaluating your care.

Choosing a Healthcare Provider Deserves the Same Attention as Choosing a Financial Advisor

When selecting a financial advisor, most people want someone whose interests align with their own.

Healthcare deserves the same level of consideration.

Dr. Grumet points out that many physicians still operate independent practices where medical and business decisions remain closely connected. Others practice within large healthcare systems owned by corporate entities or investment firms.

Ownership alone doesn’t determine the quality of care. Outstanding physicians work in every type of practice.

However, understanding how a practice operates can provide valuable context when making healthcare decisions.

Questions worth asking include:

• Is this an independently owned practice?
• How easy is it to schedule appointments?
• How much time does the provider typically spend with patients?
• Will I consistently see the same physician?
• Does the practice emphasize long-term relationships or high patient volume?

These questions won’t guarantee a better experience, but they can help you find a provider whose approach matches your preferences.

Alternative Care Models May Be Worth Exploring

Traditional primary care isn’t the only option available.

Dr. Grumet highlights two alternatives that continue to grow in popularity:

Direct Primary Care

Direct Primary Care (DPC) typically involves paying a monthly membership fee directly to your physician.

Depending on the practice, members often receive benefits such as:

• Longer appointments
• Easier communication with their physician
• Same-day or next-day scheduling
• Unlimited office visits
• Reduced dependence on insurance billing

For retirees who value accessibility and ongoing relationships with their physician, this model may be worth evaluating.

Concierge Medicine

Concierge medicine operates on a similar membership model but generally carries a higher annual cost.

In exchange, patients often receive:

• Highly personalized care
• Smaller patient panels
• Expanded physician availability
• More comprehensive preventive care

While concierge medicine isn’t appropriate for every budget, it illustrates that retirees have more choices than many people realize.

Medicare Decisions Have Long-Term Consequences

One of the most important healthcare decisions occurs when enrolling in Medicare.

Many retirees compare Medicare Advantage and traditional Medicare primarily by looking at monthly premiums.

Dr. Grumet encourages people to think beyond the upfront cost.

He argues that evaluating factors such as provider flexibility, future insurability, and long-term access to care can be just as important as comparing premiums today.

Every retiree’s situation is different, which is why Medicare decisions deserve careful planning rather than rushed enrollment.

Become an Active Participant in Your Care

One of Dr. Grumet’s most practical recommendations has nothing to do with legislation or healthcare reform.

It focuses on patient behavior.

Too often, people assume an insurance denial is the final answer.

In many cases, it isn’t.

Appealing denied claims, asking questions, requesting explanations, and advocating for yourself can all improve the healthcare experience.

The same mindset applies throughout retirement planning.

People who ask thoughtful questions generally make better financial decisions.

Healthcare works much the same way.

Retirement Is About Creating More Choices

Toward the end of our discussion, Dr. Grumet shared a definition of retirement that resonated with me.

He believes retirement begins when work becomes optional—not necessarily when work ends.

That’s a helpful way to think about financial independence.

Many people continue working because they enjoy it.

Others volunteer, consult, start businesses, or pursue hobbies that generate income.

The difference is that financial necessity no longer dictates those decisions.

Planning for retirement isn’t about reaching a finish line.

It’s about creating enough flexibility that your decisions—whether they’re financial, healthcare-related, or personal—are driven by choice instead of circumstance.

Healthcare will always be an important part of retirement.

The more informed you are before you need care, the better positioned you’ll be to make decisions that support both your financial plan and the life you’ve worked so hard to build.

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About the Author:

Jeremy Keil, CFP^®, CFA is a retirement financial advisor with Keil Financial Partners, author of Retire Today: Create Your Retirement Income Plan in 5 Simple Steps, and host of the Retirement Today blog and podcast, as well as the Mr. Retirement YouTube channel.

Jeremy is a contributor to Kiplinger and is frequently cited in publications like the Wall Street Journal and New York Times.

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Additional Links:

• Buy Jeremy’s book – Retire Today: Create Your Retirement Master Plan in 5 Simple Steps
• JordanGrumet.com
• “Earn & Invest Podcast” with Dr. Jordan Grumet
• “The Healthcare Heist” by Dr. Jordan Grumet

Connect With Jeremy Keil:

• Keil Financial Partners
• LinkedIn: Jeremy Keil
• Facebook: Jeremy Keil
• LinkedIn: Keil Financial Partners
• YouTube: Mr. Retirement
• Book an Intro Call with Jeremy’s Team

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