What retirees must know about Medicare Advantage plans

Kimberly Lankford, Contributing Editor, and Kiplinger's Personal Finance •

Medicare can cover most of your health care costs starting at age 65, but it leaves some big gaps: expensive deductibles and co-payments for hospital stays and doctor’s visits, and no coverage for prescription drugs. Most people supplement their Medicare coverage with a medigap plan and a Part D prescription-drug policy offered by private insurers.