While there is no single solution for everyone, Medicare supplement plans are almost always worth it. Going with just Original Medicare (Part A and Part B) is not wise. Let’s cover the reasons why a Medicare supplement plan is in your best interests.
Fill in the gaps in Original Medicare.
The main purpose of supplemental insurance is to fill in the gaps in Original Medicare - hence why it’s called Medigap. Medicare is good insurance, but you’re still responsible for out-of-pocket costs like coinsurance, copayments and deductibles.
Not only can these costs add up, but also there’s no out-of-pocket maximum. All it takes is one long stay in the hospital and you could be out tens of thousands of dollars. Even smaller ongoing medical needs can add up. With Medigap, you’ll get help paying for these expenses.
Protect your financial assets.
Insurance, in all its forms, protects people from significant loss. By paying for a Medigap plan, you can protect your financial assets.
Normal-length hospital stays, regular office visits and a standard imaging procedure might not break the bank, but some medical conditions will. Medicare does provide a solid insurance base, but what it doesn’t cover can be substantial. Having supplemental insurance ensures these added expenses will be covered on your behalf.
Give yourself better care.
When you know that you have good health insurance, you’re more likely to go to the doctor and get regular screenings. Sadly, 1 in 4 Americans skip medical care because of the costs. As difficult as it is when people are young and just starting out, it’s equally challenging when people are older and living off a fixed income.
By having the proper insurance coverage, you can give yourself the best care possible. Between Medicare and supplemental coverage, most of your healthcare costs will be covered. This way, you can seek out the care you need when you need it.
Learn More About Medigap Plans Today
In a nutshell, Medicare supplemental plans are worth it. Even though you’ll be paying another premium, this will help you cover out-of-pocket costs like deductibles, copays and coinsurance. You can manage your finances this way and know that high quality medical care is within reach. With so many Medigap plans to choose from, contact Leonard Financial Solutions to discuss your options.