Paul doesn’t understand what all the fuss is about when it comes to Medicare. He’s ok with the small co-pay charges he has today, but what about ten years from now? One of the best reasons to invest in Medicare Supplement Insurance is to keep your assets and your savings so you’re prepared for big life changes.
Even during the recent recession, the cost of extra help that many people need as they age continues to grow. The rates at assisted living facilities rose by 5.2 percent from 2009 to 2010, according the MetLife Mature Market Institute. From 2008 to 2009, assisted living costs climbed by 3.3 percent. In contrast, inflation was just barely over one percent last year.
If you need to go to the hospital, the cost you incur without Medigap Insurance can shift to major medical debt in a few days. Medicare doesn’t cover hospital care until you’ve met the Part A deductible of $1,132. That’s not an annual deductible, though.
You must meet that deductible for each benefit period, which ends once you have not received care at a hospital or nursing facility for 60 straight days. Medigap coverage offers ten different packages, including ones that reimburse you for the Medicare Part A deductible. Now is the time to look into ways to protect your assets and your savings. You can see what Medicare Advantage plans and Medigap Insurance plans are available where you live right here on our website – www.MediGapAdvisors.com.