Sign up for Medicare
Once you become eligible for the Medicare federal program that subsidizes health care services for people 65 and over, make sure you sign up. Being part of the program and enjoying some of its benefits, especially in terms of your out-of-pocket health insurance costs, will make a great difference to your retirement budget.
There are different types of Medicare health care plans you could choose from, to help you pay for hospital stays, doctor visits, and prescriptions but if you want to find out more, check out these 11 Essential Facts You Need To Know About Medicare.
Medicaid is another program that provides coverages for health care services for low-income children, families, seniors, pregnant women and people with disabilities. If Social Security will be your only source of income in retirement, Medicaid can make a huge difference. Surprisingly, it covers several things that Medicare does not cover such as dental care, prescription drugs, physical therapy, eyeglasses.