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Retirement Myths and Realities
Continued from last month…
3. Medicare will pay all my medical bills
You may presume that when you reach age 65, Medicare will cover most health-care costs. But Medicare doesn’t cover everything. Examples of services generally not covered by traditional Medicare include most chiropractic, dental and vision care. And don’t forget the cost of long-term care–Medicare doesn’t pay for custodial (nonskilled) long-term care services, and Medicaid pays only if you and your spouse meet certain income and asset criteria. Without proper planning, health-care costs can sap retirement income in a hurry, leaving you financially strapped….Read More