Once you turn 65, you are eligible to take part in the Medicare system of healthcare. It can be a little confusing to apply, and sometimes a little hard to figure out what it will and won’t cover. Traditional Medicare, also known as “Original Medicare,” should cover most of your medical expenses through Medicare Part A and Part B. Part A is all about hospital insurance: inpatient stays, skilled nursing facilities for some costs, surgery, hospice care and some home health care. Part B helps to pay for things like some medical equipment and supplies, some preventive services, doctor visits and outpatient care. Three months before you reach age 65, you need to sign up for Medicare.
Kiplinger’s article, “7 Things Medicare Doesn't Cover,” takes a closer look at what isn't covered by Medicare, plus some information about supplemental insurance policies and strategies that can help cover the additional costs, so you don't end up with unanticipated medical bills in retirement.