When married couples retire, they often make major financial decisions together, from managing Social Security benefits to choosing where they’ll live. But there’s one retirement decision that doesn’t necessarily need to be made as a team: Medicare coverage.
Many couples assume they should enroll in the same Medicare plan because they’re married, share household expenses, and may even visit the same doctors. However, Medicare generally provides individual coverage rather than the family-style coverage people may remember from employer-sponsored health insurance. That means spouses can select different Medicare coverage options based on their individual medical needs, prescriptions, doctors, and budgets. Here is what couples need to consider before making their choice during Open Enrollment.
