According to the AARP Public Policy Institute, 10 percent of those receiving Medicare benefits (more than 4 million people) spend more than $8,300 of their own money on health care per year. That can really eat a significant hole in retirement savings, and it’s one of the main reasons that people supplement Medicare with a Medigap plan.
Medicare Supplement plans pick up health care expenses that Medicare doesn’t cover. For instance, while Medicare makes you meet one deductible for doctor services and a different deductible for hospital care, certain Medigap plans reimburse you for what you spend before Medicare coverage begins. These plans can pay for both doctor and hospital services, so you don’t have to drain your savings.
You’ll like that there are 10 different ways to get Medigap Insurance benefits. That makes it easy to get the coverage you’ll probably need without paying extra for benefits you are less likely to use. The different types of Medigap Insurance are designated by different letters. For example, you can get a Medigap Plan A that has fewer benefits than a Medigap Plan F.
You can learn more about these plans here on our website. Then, it’s easy to request instant quotes to see what’s available in your state and what the prices are running. If you’d like a second opinion on your options, we offer free, private consultations. Our friendly experts can answer your questions and take the confusion out of Medicare coverage options.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.