Most people who go on Medicare get a Medicare Supplement Plan, which is very smart because of the potential high out of pocket if you have a large medical expense while covered with Medicare.
If you’re 65 and relying on Medicare to cover your healthcare bills, you could have to pay $1,100 per illness out of your own pocket. When you’re admitted to a hospital, Medicare requires you to meet that high deductible before it picks up any of your bills. That’s called the Medicare Part A deductible.
That’s not the only expense you could have to cover for hospitalization if you count on Medicare’s coverage, either. Medicare Part A covers hospitalization for 60 days, but it drops your coverage down to only a part of your daily hospitalization costs for days 61 through 150. Daily hospital charges frequently exceed $1,100 per day.
Instead of just hoping you never need hospital care, you can be sure you’re covered with Medicare Supplement Insurance. Medicare Supplement Plans offer ten strategies for filling the gaps in Medicare’s coverage. Nine of these plans (Medigap Plans B through N) will reimburse you for the Part A deductible. What about the portion you have to pay after the first 60 days of hospital care? All of the ten Medigap Plans (A through N) cover that expense.
And, that’s just the start of what a Medicare Supplement can save you. You can see what all the plans cover and decide which benefits will save you money at www.MediGapAdvisors.com. As the nation's leading independent agency specializing in Medigap Plans, these experts give you a search engine to run instant quotes, but the friendly advisors offer a more personal touch. Just call us at 866 323-1441 to arrange for a free consultation with your own Personal Advisor. He or she can compare plans to your needs and let you know which will save you the most money and explain how that works. You can apply online in minutes, or have your Personal Advisor walk you through applying to make the whole process easy and hassle free.
Is this plan same like the medical insurance ? I am very confused after reading your post. As per your plan people above 65 do get covered under this policy but in case of medical insurance there is age limit and that age group doesn't fall into it. There is no provision for people that are over aged.
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ReplyDeleteI think it still is our responsibility to gather enough savings for our own medical needs or perhaps get a secure horizons medicare advantage at least before we go on retirement.
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