In the fierce debate over who is going to lose the budget cuts game, the military isn’t silent. In fact, U.S. Defense Secretary Leon E. Panetta says Congress should increase taxes and trim Medicare and Social Security rather than cut military funding. It appears that Congress is listening.
Since 2001, the military budget has increased by over 70 percent, while Medicare did not cover preventive health care until 2011. Until this year, Medicare only paid for 80 percent of doctor charges. To get health care that could prevent deteriorating health, or even death, beneficiaries had to pay for 20 percent, or get Medigap Insurance to fill in the gap in their Medicare coverage.
Even now, Medigap Plans take the worry out of wondering how much of your medical costs Medicare will handle. If you need anything beyond preventive services, you’ll need Medicare Supplement Insurance to make your coverage complete. If you need a doctor who doesn’t accept Medicare’s pre-determined rate, you’ll need a Medigap Plan to cover the difference.
Is Medigap more important now? In an uncertain economy with uncertainty over the future of Medicare, maybe it’s worthwhile cover as much of your medical expense with insurance as possible. It’s going to depend on your individual situation, but if plan premiums are less than your out-of-pocket medical costs, Medigap could save you money. With our years of experience researching how to supplement Medicare, we can help you navigate the twists and turns of Medicare. If you have questions, give us a call. We’re here to talk with you about what Medicare covers, and how Medigap and Medicare Advantage Plans can cover what Medicare doesn’t.
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.