Include healthcare decisions in retirement planning.

Understand the coverage questions

Ask which services are covered, which providers and prescriptions are included under a particular arrangement, and what premiums and out-of-pocket costs apply. Original Medicare, Medicare Advantage, prescription drug coverage, and Medigap have different roles and rules.

Check enrollment timing

Medicare eligibility and enrollment have rules separate from Social Security retirement claiming. Many people first become eligible around age 65, while some qualify earlier. Current employer coverage and other circumstances may affect enrollment options. A delay without an applicable exception can lead to gaps or penalties. Verify your actual enrollment period with Medicare.

Include income-related costs

Some beneficiaries pay income-related adjustments to Medicare premiums. Taxable income changes can affect later costs under the applicable rules. Ask the appropriate tax professional how a proposed transaction may interact with those rules.

Keep long-term care distinct

Medicare generally does not cover ongoing custodial long-term care. Certain skilled nursing and home health services may be covered when eligibility conditions are met. Do not assume those benefits pay for all help needed with daily living.

Get coverage guidance from the appropriate source

Use Medicare, your State Health Insurance Assistance Program, or an appropriately licensed professional for enrollment and plan-selection questions. This website does not represent LFG as providing Medicare plan selection or enrollment services.

• Medicare: When coverage starts
• Medicare: Long-term care coverage