Are You Falling for These 3 Medicare Myths?
The Motley Fool
by newsfeedback@fool.com (Maurie Backman)February 24, 2026
AI-Generated Deep Dive Summary
For many retirees, healthcare expenses are a major concern, which is why so many older Americans delay retirement until age 65 to access Medicare. However, believing certain myths about Medicare can lead to costly mistakes that harm your financial stability in retirement. It’s crucial to understand how the program works before making any decisions.
One common myth is that you must enroll in Medicare immediately upon turning 65, or else you’ll lose coverage forever. While it’s true that there are deadlines for enrolling in Parts A and B of Medicare, failing to meet them doesn’t mean you’re locked out permanently. You can still enroll during the General Enrollment Period, but you may face higher premiums as a penalty for delaying.
Another myth is that Medicare covers all healthcare costs. In reality, Medicare has significant gaps, such as no coverage for long-term care or most dental and vision services. Understanding these limitations is essential to planning for other types of insurance, like Medigap or Medicare Advantage plans, which can fill those gaps.
Finally, some people believe that choosing a Medicare supplement plan (Medigap) will always save them money. However, the best plan depends on your health状况, where you live, and what benefits are most important to you. It’s wise to compare options carefully and consider consulting with a qualified expert to avoid overspending or underinsuring.
Dispelling these myths is critical for anyone approaching Medicare eligibility, as misunderstandings can lead to unnecessary expenses and stress. By staying informed, retirees can make smart decisions that protect both their health and their financial future.
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Originally published on The Motley Fool on 2/24/2026