E-mail :

Password :

Forgot Password? | Sign up for Free

Financing the Future: 5 Things to Remember About Medicare and Why You Need Extra Coverage

Posted by : Premraj | Posted on : Wednesday, June 27, 2018


Medicare is the Unites States’ federal health insurance plan. There are four parts: A covers hospital care, B covers everything outside of hospital stays, C includes Advantage plans offered by private companies, and D covers prescription drugs. With 80% or more of all doctors in the US accepting Medicare, you might think your bases are covered. However, like all health insurance, it’s worth taking a closer look at the benefits.

1. Medicare for some.

In recent years, an increasing number of politicians and their constituents have been calling for the US to join other developed nations in implementing Medicare For All. This would see every citizen covered under the health care plan. After all, it is funded by taxpayers, regardless of whether or not they’re eligible.

But until universal healthcare becomes a reality, there are serious restrictions on who can take advantage of Medicare. Only those 65 or older, individuals disabled for two years or more, and those with certain diseases can receive it. Low-income individuals could, however, be eligible for Medicaid in their state.

2. The long term.

Gaps in coverage are frequently seen with the elderly. If you or your aging loved one requires a stay in an assisted living facility, or needs daily assistance at home, Medicare probably won’t foot the bill for any of it. At this point, you could see whether or not Medicaid can help, but your income can disqualify you.

As usual, there are exceptions. If the person in question was recently hospitalized for a few days, Medicare might cough up for a portion of any subsequent rehab.

3. Taking a trip.

Given that many Medicare recipients are over 65, it’s common for them to be retired. A lot of us dream of spending our Golden Years traveling abroad, and the current over-65 population is no exception.

The trouble is, Medicare typically doesn’t cover medical expenses incurred overseas. On the plus side, healthcare in many other nations is not nearly as expensive. Still, if you don’t plan for that gap, you will at least have to make sure you visit a country that wouldn’t stick you with a massive bill should you fall ill.

4. Alternative wellness.

Maybe your treatments for an illness or injury aren’t as effective as you’d like. Your doctor might recommend alternative or complementary medicine to maximize your chances of a positive outcome.

Unfortunately, treatments like chiropractic care, acupressure, and other therapies are not covered.

5. Eyes and teeth.

Vision and dental is really key to overall health, but Medicare doesn’t chip in here. One of a few exceptions would be following cataract surgery. Overall, routine vision, dental, and hearing are the primary reasons those with Medicare seek out coverage from GoMedigap.

If you don’t want to pay out of pocket for annual eye exams and biannual dental checkups, having a supplemental plan to make up the difference can be a lifesaver.

While it isn’t perfect, Medicare coverage is really life-changing for those who need it. The majority of providers accept it, and Part A is often free. Even so, you should speak to social services today to find out what isn’t covered by Medicare. No matter what services you need, there’s an affordable plan to help ensure your coverage is truly complete.



Comments : Post a Comment | Category : Personal Finance, Planning, Retirement | Tags :

The term ‘travelling on a shoestring budget’ has fallen out of favour recently – and it’s not because more people are using Velcro. It’s because getting from A to B has never been cheaper. Transport to an airport can occasionally be more expensive than the flight itself, and the rise of cheap AirBnB apartments has […]


What do you need? What does your business need? Can you put a number to your needs? Or can you set a value to your wants? It can be hard to tell the difference between needs and wants, and even harder to tell which is which for your business. When you make any business decision, […]


Saving money is something which sounds good in theory but can be actually very hard to put into practice. There are many short-term fixes for saving money from excluding yourself from activities with your friends to eating less food for a week or two. However, most of these short-term fixes don’t actually help you to […]


With fewer regulations limiting who can take part and what they can do over other forms of derivatives trading, CFD trading is growing more and more popular. There’s still some controversy around it, however, that stems in part from the fact that a lot of people are not quite sure how it works. In fact, […]


Whether you are a working professional who is leading a busy life, a teenager or a stay-at-home parent, you are looking for methods or unwinding at the end of a challenging week. Fortunately, there are plenty of options, some being cheaper and others not so much. When it comes to entertainment, different individuals prefer different […]


Level vs decreasing term life insurance infographic

Recent statistics suggest that over 64% of people now live in their own home with 29% of those people, still paying for a mortgage. (Source: http://uk.businessinsider.com) If you own a house, itís likely that your mortgage is your biggest monthly expense. Yet, have you ever thought about what would happen if you were no longer […]


Financial security via Social Security holds immense importance for much of the elderly, therefore, many people start planning for their future from a very young age. Besides personal savings, there are several monetary sources that can provide you with financial security after retirement. These are employer pensions, gratuity, provident funds, and other types of investments, […]


Money is something we need for everyday living; it is also one of the biggest causes of stress if you don’t feel you have control over it. With the cost of living rising and family budgets getting tighter, it can often feel like a struggle to get everything in order to lead a stress-free life. […]


The traffic to your business website is flowing, but how many of those impressive visitor numbers are being converted to actual sales? There is little point in being the most visited business website in the world if only two or three people a day actually buy a product or service from you. If that sounds […]


How to launch a business? Or, rather, where to find money for launching a business? Fundraising is the solution. Attract investors with these simple tips. How to Raise Money for Your Business Everybody wants to be a businessman but not everybody does something to become one. Most people believe, and this belief serves as a […]


Free Budgeting software to better manage your money

Register for FREE, Learn More or Watch the Video