Medicare will pay for a lot of healthcare costs for senior citizens who are under the program, but it does not pay for everything. Those who are on Medicare are expected to help cover these costs by paying deductibles and co-payments when they seek care. Although this might seem reasonable, the costs can become too much for many senior citizens to pay for.
This does not mean that you will have to continue to spend more than you can afford on healthcare, however. There are a few options out there that can help you, such as Medicare supplement plans. If you have not yet signed up for a Medicare supplement plan, it can pay for you to secure this coverage during the Open Enrollment period this year.
What is a Medicare Supplement Plan?
A Medicare
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Instead, this type of plan will supplement your existing benefits. You must have Medicare Part A and Part B in order to qualify for one of these plans.
Basically, Medicare will pay for your healthcare first, within the guidelines of what it covers. Then, your Medicare supplement policy will pick up the extra slack and help cover additional costs that you would otherwise be responsible for, such as deductibles and co-pays.
You will have to pay for this coverage, as well as paying for your Medicare Part B benefit. You will also have to pay separately for this coverage, so if you are married and your spouse wants help with deductibles and co-pays too, the two of you will have to sign up for and pay for your policies separately.
How You Can Benefit from Signing Up for a Medicare Supplement Plan
Even though you will have to pay an additional monthly premium to cover your Medicare supplement plan, all while paying for your required Medicare Part B plan, you are sure to find that you will save a significant amount of money throughout the course of the year by having this coverage. If you sign up a Medigap policy during Medicare Open Enrollment for 2016, you will be able to keep your healthcare costs to a