It’s important to understand that Medicare Part A and Part B leave some pretty significant gaps in your health-care coverage. Here’s a closer look at what isn’t covered by Medicare, plus information about supplemental insurance policies and strategies that can help cover the additional costs, so you don’t end up with unexpected medical bills in retirement.
You may decide to retire at 62 because you can start collecting Social Security at that age and you feel ready to move on to a new stage in life. Medicare is the government health care program for people age 65 and older and people younger than 65 with certain disabilities.
Medicare supplement insurance is an add-on to Medicare parts A and B. It’s also called Medigap insurance, because it fills in for Medicare cost gaps.
Medicare Supplement insurance is a private policy that helps you lower your out-of-pocket health costs. Learn more about how to get started here!
Are you confused and overwhelmed by Medicare??
Worried about making the wrong decision and being stuck with a plan that doesn’t cover your medical and prescription needs when you need it most?
Don’t worry! You are not alone. The vast majority of seniors who are on Medicare have absolutely no idea which type of plan they have, and what it does and does not cover.
Getting health coverage is one of the most important parts of aging. Often times, especially when we are in good health, we may neglect the importance of getting this coverage. However, with potential unforeseen medical expenses looming, this is a crucial time to make sure you are completely covered. Unfortunately, Medicare does not cover all of your Medical expenses at 100%.
If you’re nearing age 65, you’re probably considering your Medicare enrollment options. The standard coverage beneficiaries receive is Medicare Parts A and B, known as Original Medicare. Part A includes coverage for hospitals, skilled nursing facilities, and hospice care while Part B includes doctor visits, outpatient therapy, ambulances, and medical equipment.
If you’ve recently enrolled in Original Medicare, congratulations! Now is a good time to learn about the different parts of Medicare, so you can understand what your benefits include and decide if you want to sign up for additional coverage.
A couple decades ago, there weren’t a lot of choices when you became eligible for Medicare. Most U.S. citizens enrolled in Original Medicare, the health plan that’s provided by the U.S. government. The decision-making process was pretty easy.
Medicare Part A and Part B, also known as Original Medicare or Traditional Medicare, cover a large portion of your medical expenses after you turn age 65. Part A (hospital insurance) helps pay for inpatient hospital stays, stays in skilled nursing facilities, surgery, hospice care and even some home health care. Part B (medical insurance) helps pay for doctors’ visits, …
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