Make Sure Your Parents Sign Up for Medicare at Age 65

Even if your parents have private healthcare insurance, they should apply for Medicare when they turn 65. Here's why: if they sign up later, they'll likely be subject to underwriting -- which means they'll pay higher premiums if they have any illnesses or are in poor health. Also, if they don't enroll in Medicare Part B (which covers doctor visits and outpatient care) when they turn 65, their premiums will increase 10 percent for each year they delay signing up. There's absolutely no downside to signing up for Medicare right away, and it will cost your parents dearly if they put it off.