Once you reach age 65, you’re eligible for Medicare. So if you retire at or past that age, the government program generally is there for you. However, it doesn’t cover everything; for example, dental, vision and long-term care (e.g., help with daily living, such as bathing and dressing) are not included.
The amount you pay for Medicare depends on a number of factors, including your income (higher earners pay more), whether you pay any late-enrollment fees (if you didn’t sign up when you were first eligible and don’t meet an exclusion) and whether you opt for additional coverage and to what degree.
However, if you’re younger than 65, you’ll need to find coverage on your own.
“A lot of people forget that, don’t factor it in or find out they way underestimated the cost,” Rogers said. “If you’re 65, so you can get on Medicare, retiring is much more doable.”