Medicare, Disability Benefits and Unexpected Surprises

Robert Powell, CFP®

What happens when you're on disability for an extended period and under age 65? Many are surprised when they have to start paying for Medicare out of their disability benefits...and the change to Medicare seems to just happen.

One day, you find out your insurance is now Medicare Part A and B, you'll need to fill the "gap" with supplemental insurance, and, biggest surprise -- you have to purchase Medicare-quality prescription drug coverage or be penalized for the rest of your life for missing the deadline to do that.

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Social Security/Medicare