Medicare Tips for Baby Boomers

Avoid Medicare penalties

Avoid Medicare penalties

With people working longer to stabilize their retirement planning and the retirement age increasing (even under the Social Security Administration), many people may believe that Medicare follows suit.  Unfortunately, that is not correct and may prove costly for those not “in-the-know.”  Although there are a few exceptions, the general rule is that everyone must enroll in Medicare upon turning age 65 (and may apply up to three months prior or after turning that age).  If you miss this timeframe, penalties will begin accruing and your Medicare premiums will be much more expensive when you do finally enroll (10% for each year enrollment is delayed).

To learn more about enrolling in Medicare and some tips about its coverage, go here.

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