5 Medicare Myths That Could Destroy Your Retirement
Millions of seniors get health coverage through Medicare, and chances are, you'll rely on it during retirement, as well. But if you don't get your facts straight about Medicare, you could end up struggling during retirement needlessly. Here are a few myths about the program you can't afford to buy into.
Medicare Part A, which covers hospital care, is generally free for enrollees. But Parts B and D, which cover outpatient care and prescriptions, respectively, charge a premium. Similarly, you'll pay a premium if you sign up for Medicare Advantage as an alternative to original Medicare, which consists of Parts A, B, and D.
In addition to premium costs, you'll have deductibles, copays, and coinsurance to cover, so don't assume you won't spend any money on healthcare during retirement. Quite the contrary -- your healthcare costs will likely eat up a substantial portion of your retirement income.
Source Fool.com
