If you have been thinking that you are not going to need to pay for health insurance once you reach the age of sixty-five and qualify for Medicare, you are going to be in for a surprise. While Medicare Part A covers inpatient hospital care, hospice, lab tests, surgery, home health care, and skilled nursing facilities, and Part B covers doctor’s visits, outpatient care, home health care, medical equipment, and certain preventative services, not all of it is covered in full. Plus, Medicare does not cover custodial care, dental care, eye exams, cosmetic surgery, routine foot care, acupuncture, or hearing aids.
A healthy adult may be able to survive on only Medicare, but since no one knows when their health is going to get worse, and everyone is only guaranteed approval for Medicare supplemental insurance plans during the first six months after turning sixty-five, you may not want to take that risk.
In addition to all the services that Medicare does not cover, you will also be responsible for a deductible each year, plus coinsurance and copayments. This might not seem to be a lot of money at first, but one inpatient hospital stay can put you a few thousand dollars in debt. By purchasing one of the Medicare supplement plans, you won’t be responsible for that full amount, as your Medicare supplemental insurance will cover most of the balance.
You may also be surprised that there is no out of pocket maximum amount of money that you pay each year with Medicare, which means you can pay anywhere from five thousand to twenty thousand dollars or more on medical expenses each year. If you purchase one of the Medicare supplemental insurance plans, you will be guaranteed to not pay over a specific amount each year, no matter how many medical expenses you have.
All Medicare supplement plans will allow you to keep all your medical costs lower, which will ensure that none of your assets are ever at risk from major health problems and massive medical bills.
You will want to carefully consider the Medicare supplement plans that are available to you, because some cover more than others. You should also purchase this plan within your six-month open enrollment period, so you are not denied coverage or asked to pay a higher premium.
While it would be nice if Medicare Part A and Part B, Original Medicare, covered all your medical expenses, it’s not realistic. Thankfully, Medicare supplemental insurance plans are available, so you can still keep your costs manageable when you do need to seek medical care.
Learn more about Medicare Supplemental Insurance plans, rates and more at http://www.emedicare-supplemental-insurance.com. Medicare Supplemental Insurance brokers will help you compare Medicare Supplemental Insurance rates and plans. To talk to an expert in Medicare coverage toll free 877-202-9248 today!