Healthcare before and after Medicare

Healthcare is one of the largest costs in retirement, and it changes at 65.

Before 65. If you stop working before Medicare starts, the usual choices are:

• coverage from a former employer;
• COBRA, usually for up to 18 months;
• a plan from the Health Insurance Marketplace, where premium help depends on income;
• a spouse’s plan;
• TRICARE, for military retirees.

From 65. Medicare covers hospital care (Part A), doctors (Part B) and drugs (Part D). Many people add a supplement plan or choose a Medicare Advantage plan. Signing up around your 65th birthday avoids lifelong late penalties. Higher incomes pay more for Parts B and D.

What Medicare leaves out. Dental, vision, hearing and long-term care are mostly outside it, so plan for them separately.

Healthcare costs tend to rise faster than other prices. Planning for them, person by person and year by year, brings peace of mind.

See your full plan. PlanHarbor includes each person’s healthcare before and after 65 in the plan. Join the waitlist