Retirement Healthcare
The federal health insurance program for people 65 or older — and your complete guide to coverage before and after Medicare eligibility.
Medicare has four distinct parts — each covering a different aspect of your healthcare. Understanding how they fit together is the foundation of your retirement healthcare plan.
Covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Most people pay $0 premium if they've worked 40+ quarters.
Covers doctors' services, outpatient care, medical supplies, and preventive services. Standard 2024 premium is $174.70/month, subject to IRMAA for higher incomes.
An all-in-one alternative to Original Medicare offered by private insurers. Bundles Part A, Part B, and usually Part D — often with added benefits like dental and vision.
Helps cover the cost of prescription drugs, including many recommended shots and vaccines. Offered through private insurers; costs vary by plan and formulary.
7-month window: 3 months before your 65th birthday month, the month of, and 3 months after. This is your primary enrollment opportunity — don't miss it.
If you or your spouse are still working and covered by employer insurance at 65, you can delay enrollment penalty-free. You get an 8-month SEP after that coverage ends.
January 1 – March 31 each year if you missed your IEP. Coverage begins July 1. A late enrollment penalty applies to Part B and Part D.
If your MAGI is above $103,000 (single) or $206,000 (joint), you'll pay higher Part B and Part D premiums. Based on your tax return from 2 years prior.
Each topic below covers a distinct piece of your retirement healthcare picture. Start with whichever is most relevant to where you are today.