The year 2024 will be record-breaking for retirement. In 2024, 11,200 Americans are expected to celebrate their 65th birthday every day until December. If you are turning 65 this year, you need to get up to speed on Medicare basics. There’s a lot at stake.
You have to pick supplemental insurance to fill Medicare’s coverage gaps, and you might have to switch to less-expensive versions of some medications. If you don’t sign up by the deadline or make other mistakes, you could end up with lifetime penalties, denied claims or big bills you shouldn’t have to pay.
This post originally appeared at Kiplinger.