Going without health insurance at any age can be a dangerous thing. This especially holds true in retirement. That's because health problems have a tendency to arise with age. And without health coverage, you risk wiping out your nest egg to pay your expenses.

Thankfully, older Americans don't have to go without coverage, because starting at age 65, most seniors are eligible to sign up for Medicare. A new report by TIAA, however, reveals that only 34% of current retirees understand how much of their medical expenses Medicare will cover.

If you're gearing up to enroll in Medicare, or if you've recently signed up, it's important to know what to expect from the program. Here are some key things to know about Medicare.

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Source Fool.com