Investment Updates
6 Common Medicare Myths That Should Be Dispelled
Published Wednesday, June 15, 2016 at: 7:00 AM EDT
Medicare is one of the most critical elements of health care for senior citizens in this country. It's also one of the most misunderstood. A number of myths about Medicare have proliferated, costing countless enrollees both time and money. Here are six myths you might be swayed by and the reality about them:
Myth #1: You must be retired to apply for Medicare.
Reality: You can sign up for Medicare at age 65 regardless of whether you're still working or are already retired. And even though many people lump together Medicare and Social Security, the full retirement age (FRA) for receiving Social Security retiree benefits—currently 66 for most people but gradually rising to 67—has nothing to do with Medicare eligibility. But you can be penalized for applying late for Medicare, so sign up as soon as you reach age 65.
© 2024 Advisor Products Inc. All Rights Reserved.
More articles
- How To Save For Your Retirement At Every Age
- Six Hurdles To Overcome In Stretch IRA Planning
- Study These Six Higher Education Tax Breaks
- Women Have Better Credit Scores, But Lower Ratings Than Men
- Four Retirement Planning Rules Of Thumb To Bend
- Five Big Tax Penalties To Avoid At All Costs
- Don't Let Scam Artists Ruin Your Retirement
- Visualizing The Risk Of Running Out Of Money In Retirement
- Don't Be Victimized By These 10 Common Scams
- Wall Street's Strategists About As Good As Monkeys Throwing Darts
- Stocks Surge 2% Friday But Why Are They So Volatile Lately?
- Getting Ready To Retire? 7 Moves NOT To Make
- Three Ways You Can Play Good Stock Market Defense
- Despite A Lackluster Black Friday, Economic Fundamentals Look Good
- Where's Your Retirement Income Gonna Come From?