Medicare
Also called: Medicare Part B, Medicare Advantage, IRMAA
Medicare is US health coverage from age 65, split into hospital, medical, drug and bundled private plans. Two financial details matter for planning: premiums are means-tested through IRMAA using income from two years earlier, so a one-off capital gain at 63 raises premiums at 65, and enrolling late without qualifying coverage triggers permanent penalties. It also doesn't cover long-term care, the largest uninsured retirement expense.