Failing to be proactive with Medicare can cost you big-time.

There are few programs that are more important for seniors than Medicare. And the role it plays in ensuring the health and financial well-being of older Americans is only expected to grow.

On one hand, the older American population is expanding at a phenomenal rate on account of improved health education, diagnostic tools, and pharmaceutical products. The U.S. Census Bureau predicted that the number of elderly Americans would roughly double to 83.7 million from 2012 to 2050, while the number of people aged 85 and up would more than triple by 2050. Living longer than ever gives Americans a chance to thoroughly enjoy their retirement and pursue their passions.