Many people that are about to enroll for Part B may not realize that medicare supplemental plans are extremely important. Even if you are perfectly healthy, you never know when a visit to the emergency room, or the need for extensive diagnostic testing might leave you with thousands of dollars in medical bills. As may be expected, if you already have chronic conditions such as obesity, diabetes, hypertension, or high cholesterol levels, not having a medicare supplement plan could easily cost you far more than you ever dreamed possible.
Health Risks Vs Medicare Supplemental Plans
No matter how you look at it, increased longevity still takes a toll on your body. This includes creating a higher risk of stroke, heart attack, cancer, and many other serious diseases. Since Medicare only pays 80% of their contracted fee schedule for medical care, paying for a adequate health care can be well beyond your budget if you do not have medicare supplemental plans to back you up. In fact, if you already have certain health conditions, or know of illnesses that tend to run in your family, buying secondary insurance as a retiree can easily give you peace of mind even if you do not need to use the insurance right away.
Protecting Your Financial Assets in 2012 with a Medicare Insurance plan
Even though the vast majority of senior citizens see the benefits associated with enrolling in Medicare Part B, far too many do not look for Medigap or even Advantage plans for your family. Consider a situation where you just retired, and now have Medicare for health insurance instead of the coverage you had at work. Do you remember when you could just go to the emergency room and pay a $50.00 co pay? Unfortunately, with Part B Medicare, you will pay far more. Even if you only have one or two x-rays taken after falling, the total emergency room bill will run around $4,000.
Assuming you have not met your deductible of $110.00 for 2012, you can expect to pay approximately $910.00 for one single visit to the emergency room. Needless to say, if you wind up being diagnosed with a serious medical condition, you may easily wind up with several thousand dollars worth of bills in a very short time. If you worked your whole life to pay off a mortgage and have a little bit of savings, it will be gone in medical bills unless you buy insurance to supplement your medicare.
Today, many people still look forward to signing up for Part C coverage for this coming year because it means they will finally have some kind of safety net in case they get sick. While Medicare truly does serve the needs of many people, the remaining 20% of medical bills that get assigned to the patient tends to be too expensive. Without a question, if you are disturbed by the extreme escalation in the cost of health care services, then you owe it to your business to shop for supplemental plans in order to protect your financial future as well as ensure that you will always be able to choose the kinds of care that you want to receive.