As we watch our parents age, or perhaps start looking at that enrollment date ourselves, there is a comforting assumption that Medicare is the safety net that catches everything. We have paid into the system for decades, so we expect it to be there when the inevitable health issues of aging arise. But there is a rude awakening waiting for millions of Americans. The system is full of gaping holes—coverage gaps that aren’t just minor inconveniences, but massive financial liabilities that can drain a retirement savings account in months. The reality is that Medicare was never designed to cover the full spectrum of senior needs, and failing to plan for these gaps can lead to financial ruin in your golden years.
