It’s time to get your Medicare questions answered if you turn 65 in the next few years. There’s a lot at stake, but you’re not alone. The years 2024 through 2027 will be record-breaking for retirement. Over 10,000 Americans are expected to celebrate their 65th birthday every day. So take a moment to familiarize yourself with Medicare basics.
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. But don’t put these decisions off. 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.