Is Original Medicare Enough?
Have you given any thought as to whether Original Medicare (Parts A and B) are enough to provide you with sufficient health coverage for the rest of your life? It certainly is better than no coverage at all! But is it really good enough?
Here are some cosiderations that you should think about.
How is your health today?
- Do you currently have any major illnesses or physical problems that are costing you a lot for frequent hospital services, special nursing care, doctors and specialists, re-occuring labs and tests, etc.
- If you have health coverage now, such as an employers plan, keep in mind what that insurance is paying for and what it would cost you without that coverage.
- Would Original Medicare cover your costs, fully or partially, or not
If you are currently healthy, do you have a family history of illness that you could develop in the future?
- There are illnesses that are hereditery and can develop later in life and be very costly which may not be covered by Original Medicare.
Do you travel out of the country frequently?
- Original Medicare is US bound and does not cover services outside of the US.
What is your situation regarding perscription drugs?
- Original Medicare does not pay for any perscription drugs not administered in a hospital or a doctor's office
- Costs for prescription drugs can be the highest costs to many seniors
Original Medicare has no Out of Pocket Maximum
- Your costs (deductibles, co-pays, costs beyond annual/period limitations, and things not covered) for both Part A and Part B have no limit and can amount to very large amounts for each year
Don’t be afraid to seek help.
- In addition to advice from Medicare, tools that could help you include
- State Health Insurance Assistance Program (SHIP), a federally funded, free counseling service.
- the National Council on Aging’s MyMedicareMatters,
- AARP’s Medicare Question and Answer Tool and
- the Medicare Rights Center fact sheets.
- Consumer Reports’ “Managing Medicare” article also is a valuable primer.