The Medicare Mistake That Could Cost 62% of Senior Enrollees a Fortune in 2018
For many retired Americans, Social Security is probably the most important social program. It's not hard to imagine why, either. It provides a guaranteed monthly stipend for more than three out of five retired workers. But Medicare is coming up fast in the rearview mirror.
According to the Urban Institute, a median income 65-year-old is expected to receive more in lifetime benefits from Medicare than Social Security by 2055. That's less than four decades away, and it's a function of medical care expenses rising at a quicker pace than Social Security's annual cost-of-living adjustment. In other words, not only are seniors trying to maximize their lifetime benefit from Social Security, but they need to also ensure that their Medicare plan is offering them the best possible value.
Image source: Getty Images.
Source: Fool.com
