With medical expenses among the most pressing financial concerns of retirees, Fidelity will team up with Extend Health, a Towers Watson company, to help retiring corporate employees choose Medicare coverage.

Once people reach age 65 and become eligible for Medicare, they face myriad choices with substantial financial consequences. Original Medicare, which can be supplemented by a private Medigap policy, appears to be losing ground to private Medicare Advantage plans. Reports indicate that nearly 1.5 million seniors joined a Medicare Advantage plan for 2013, bringing total enrollment to 14.5 million, almost one-third of all Medicare beneficiaries. In addition to choosing among Medigap policies and Medicare Advantage plans, many Medicare enrollees select private Medicare Part D coverage for prescription drugs.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access