For all those baby boomers approaching their 65th birthday, it's time to plan for Medicare.
After years of paying payroll taxes at work to help fund this government program, these older Americans finally get their turn to sign up and have health insurance for the rest of their lives. About 10,000 boomers turn 65 each day.
Yet many new enrollees are surprised to discover that basic Medicare does not cover a variety of health care expenses that can hit retirees pretty hard.
"A lot of people go into it thinking they'll be covered for everything," said Roger Luchene, a Medicare agent with Hammer Financial Group in Schererville, Indiana. "The three big ones are dental, vision and hearing. I'm actually surprised by how many people think that's covered."