Medicare 101 explains common misconceptions about retirement healthcare

Kimberly Lankford's Medicare 101 outlines Medicare parts and common enrollment pitfalls, noting the seven-month initial enrollment period and that missed sign-ups can lead to lifelong late penalties.

Kimberly Lankford's new book, Medicare 101, is presented as a practical roadmap to help people navigate Medicare choices in retirement. The book describes the basic parts of Medicare and related options. It also highlights enrollment windows, interactions with employer coverage and HSAs, and how income can affect costs. The aim is to make a complex system easier to understand. Key points: - Medicare parts covered include Part A (hospital), Part B (medical and preventive services), Part C (Medicare Advantage), Part D (prescription drug coverage), and Medicare Supplement (Medigap). - Enrollment is not automatic unless already enrolled in Social Security; the initial enrollment period is seven months (three months before age 65, the month of the birthday, and three months after). Missing it can result in late penalties that raise premiums. - Employer coverage matters: large employers' plans can remain primary, while employers with fewer than 20 employees generally mean individuals need to sign up for Parts A and B; many people delay Part B while still working. - Enrolling in Medicare ends eligibility to contribute to an HSA, though HSA funds may be used tax-free for qualified medical expenses and Medicare costs; Part B monthly premiums are reported as $202.90 now, and higher income can trigger additional surcharges, including taxable withdrawals or Roth conversions counted in income. Summary: The book seeks to clarify enrollment rules, coverage options, and cost drivers so readers can make informed administrative decisions about Medicare. Undetermined at this time.