How to Enroll in Medicare for the First Time
Summary Most people first become eligible for Medicare around age 65, but whether they need to actively enroll depends on factors such as whether they are already receiving Social Security benefits.¹ Some people are enrolled automatically, while others need to contact Social Security to enroll in Medicare Part A and Part B. Understanding when to […]
What Are the 6 Things Medicare Doesn’t Cover?
Summary Medicare covers many healthcare services, but it does not cover every medical expense a person may encounter during retirement. Some services, including most dental care, routine vision exams, hearing aids and long-term care, are generally outside of Original Medicare coverage.¹ Understanding what Medicare does and does not cover can help retirees better anticipate potential […]
Do I Automatically Get Medicare When I Turn 65?
Summary Turning 65 does not always mean you will automatically receive Medicare coverage. Some people may be automatically enrolled if they are already receiving Social Security benefits, while others need to complete the enrollment process during their Medicare Initial Enrollment Period. Eligibility, current health coverage, and individual circumstances can affect when enrollment begins and what […]
Can You Be Denied Medicare Enrollment?
Summary Yes, you can be denied Medicare enrollment in certain situations, most commonly if you do not meet eligibility requirements such as age, disability status, or citizenship and residency rules. Medicare is generally available to people age 65 and older or younger individuals with qualifying disabilities or specific medical conditions, but enrollment can be delayed […]
What Happens If I Qualify for Medicaid?
Summary If you qualify for Medicaid, the program can begin covering many of your healthcare expenses, which may include doctor appointments, hospital visits, and prescription drugs, depending on your eligibility category and state rules, according to NerdWallet.1 Coverage may start retroactively in some cases,2 and your out-of-pocket medical costs can decrease significantly once enrollment is […]
What Is the Difference Between Medicare and Medicaid?
Summary Medicare and Medicaid are both government health programs, but they serve different groups and operate in different ways. Medicare is primarily based on age or disability and is run at the federal level, while Medicaid is based on income and is jointly managed by federal and state governments, which can lead to differences in […]
What Happens to Your Health Benefits When You Retire?
When you retire, your health benefits usually change because employer coverage may end, but other options, such as Medicare, retiree health plans, or private insurance, may be available. The choices you have can depend on your age, employer policies, and eligibility for government programs. Health care is an important part of retirement planning, and many […]
What Is the Biggest Expense for Most Retirees?
As people prepare for retirement, a common concern is identifying which expenses will be the highest during that stage of life1. While living expenses shift and sometimes decrease, one area often remains a significant financial factor: healthcare. Healthcare costs tend to rise with age, and for most retirees, they represent the largest ongoing expense2. Healthcare can take up a substantial […]