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Many retirees assume Medicare is free—but it does still come at a cost. Without proper planning, unexpected premium hikes could eat into your hard-earned savings, leaving you with less money for the things that truly matter.

What to Know: Medicare premiums are tied to your income, meaning financial moves you make today—like selling a home, withdrawing a large sum from your retirement account, or converting to a Roth IRA—could dramatically increase your costs down the road. The good news? With smart planning, you can avoid overpaying and potentially save thousands each year.

Remember: You can help take control of your healthcare expenses now by understanding how Medicare premiums are set and making informed financial decisions alongside a professional advisor. The choices you make today will shape the retirement you deserve tomorrow.