Dealing with health problems during retirement can empty your savings in a matter of months. If you need medical treatment and you only have Medicare, you’ll have out-of-pocket expenses to see a doctor for diagnostic procedures and treatment. Medicare Supplement insurance can handle just about all doctor bills that Medicare doesn’t cover.
Medicare only pays 80 percent of a pre-approved amount for doctor services regardless of what your doctor bills you. Medigap insurance can automatically pick up the remaining 20 percent for you. That’s how these supplement plans became known as Medigap plans by filling in the gaps in traditional Medicare.
What if you need to see a specialist who doesn’t accept Medicare’s pre-approved amount? Let’s say that Medicare pays $100 for a procedure that your doctor charges $200 to perform. You not only owe the extra $100, but you also owe $20 of the $100 that Medicare does pay. In this case, Medicare would pay $100 and you’d pay $120, unless you had a Medigap policy.
See how a Medicare Supplement insurance plan or one of the Medicare Advantage plans can ensure you’ll have access to health care. If you’d like to discuss your options in detail, our independent advisors can give a confidential consultation free of charge. You can also join our live Medigap teleseminar by signing up here on our website.