Americans rely on Medicare for their healthcare coverage in retirement. Yet many people don't know how to take full advantage of the Medicare coverage they've earned. The five points below cover the most basic provisions of Medicare that every American should know. Learning them will go a long way toward helping you get as much from Medicare as you can.
The rules governing Medicare give most people access to the program when they turn 65. To avoid penalties, you need to sign up during the initial enrollment period, which starts three months before your 65th birthday and ends three months after it. If you have other healthcare coverage, then special enrollment periods are available later to give you access to Medicare after your existing coverage ends.
How you sign up for Medicare depends on your particular situation. Those who have already started receiving Social Security benefits before reaching 65 typically get enrolled automatically at age 65 unless they opt out. If you haven't gotten Social Security, then the Social Security Administration website has a signup tool you can use to enroll in Medicare.
Source: Fool.com