Sooner or later, we all have to face the reality that we may have to prepare for higher health care costs as we age.  Even if you have Medicare, you’ll still be left to cover a significant portion of both doctor and hospital charges.  The “gaps” in Medicare range from co-payment amounts to deductibles on both doctor services and hospitalization.  By supplementing Medicare’s coverage, you can have more complete coverage, which leads to a more secure retirement.
Having Medicare Supplement Insurance not only protects your assets and savings, but can also increase your access to quality health care services.  With Medicare Supplement Insurance plans (Medigap plans), you can get reimbursement for both the Part A and Part B deductible.  You can also get 100-percent coverage for doctor services, which Medicare covers at up to 80 percent.
When you need hospital care, Medicare only provides 100-percent coverage for 60 days.  After that, you’ll be billed for a portion of the daily charge.  If you have Medicare Supplement Insurance, you can get more complete coverage for an extended period of time.
Keep in mind that there is an open enrollment period for Medigap policies.  During this open enrollment, your right to purchase a plan is guaranteed regardless of any pre-existing health problems you have.  Here on our website, you can find information about Medicare Advantage Plans and Medicare Supplement Insurance Plans so you can be ready to take advantage of open enrollment when you turn 65 and enroll in Medicare Part B.

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.