Most individuals will be reliant on Medicare throughout their retirement years. Of those over age 50, 61% plan to use Medicare to cover their healthcare costs during this time. For a vast majority of these individuals (a whopping 74%), their greatest fear in retirement is seeing their healthcare costs spiral out of control. Given the importance of Medicare in covering health-related costs in retirement, it is important to understand basic like: 1) how to become eligible, 2) when and how to enroll, 3) types of coverage available, 4) Medigap plans, 5) premiums, and 6) how the program is funded and its current financial situation.
See Bruce A. Tannahill, Frequently Asked Questions About Medicare, Probate and Property Magazine, January 2018.
