Approaching age 65? Watch out for Medicare pitfalls

Description

Abstract: Americans who plan to work beyond the traditional retirement age of 65 need to begin planning for Medicare early to avoid costly pitfalls. Planning is particularly critical if their employers offer Health Savings Accounts (HSAs). This article explains the basics of how Medicare works and lists several issues to be aware of, including late enrollment penalties and loss of HSA deductions. A sidebar discusses the potential pitfalls of the six-month lookback period.