5 Medicare Myths That May Destroy Your Retirement

5. Medicare does not cover prescription drugs

Probably many of you have heard about all of the stories about seniors who are struggling to pay for all the prescription drugs that are not covered by Medicare. This is real. There are a lot of older people in the United States who live without their prescription drugs just because they can’t afford them.

But the fact that Medicare doesn’t cover prescription drugs is another one of the Medicare myths. The original plan (including A and B) doesn’t cover prescriptions; they cover only the basic drugs, but Part D is made to cover prescription drugs.

Part D of Medicare was established in 2003, and all of the plans for prescription drugs are offered to you by private insurance companies. Also, you can purchase it as part of Medicare Advantage.

The most important thing you can do is talk to your doctor and choose a plan that covers all of your prescription drugs.

If you don’t want to make Medicare mistakes that you will regret, you can start reading the following book: 10 Costly Medicare Mistakes You Can’t Afford to Make

You should also read: Medicare Taxes and Retirement: 8 Things You Need to Know