4 Ways Retirees on Medicare Can Lower Their Costs

Core Insights - The financial strain of healthcare costs is a significant concern for retirees, regardless of their savings level [1][2] Group 1: Medicare Enrollment - Timely enrollment in Medicare is crucial to avoid penalties, with a 10% surcharge for each 12-month period of delayed enrollment [3][4] - Those still working with qualifying health coverage have a special enrollment period after leaving their job [4] Group 2: Annual Plan Review - Medicare's open enrollment period runs from October 15 to December 7, allowing enrollees to adjust their coverage [5][7] - Regularly reviewing plan options can lead to better coverage and lower costs, even if the current plan seems satisfactory [7][8]