Now that around 10,000 baby boomers are turning 65 each day, many are considering their options when it comes to Medicare. This can be a tedious process with a lot more questions than answers, but it pays to scrutinize every opportunity before making a final decision.
Imperial Valley News reports that the first question retirees may want to ask is when they should enroll. Overall, older adults have seven months to successfully enroll - three months before, the month of, and three months after their 65th birthday.
Generally, beneficiaries enroll in Medicare Part A, which covers hospital visits, as well as Part B for doctor and outpatient services.
Part C is Medicare Advantage, which combines A and B. Part D is prescription coverage.
It's important to know that, even if retirees are still covered by an employer's plan, it can pay to enroll in Medicare Part A, because it's a free service that could come in handy in the future. However, workers can choose to defer the other parts of the plan.
This can be a critical thing to remember for healthy retirement living, because if deferrals aren't approved, retirees are charged with fines for late registration.