While there are more and more excuses floating in the air for not buying Medicare supplemental insurance, not the least of which is that it is too expensive and it is not affordable, the truth of the matter is that buying a supplemental insurance plan to fill in the gaps in your Medicare package is just plain smart. There are a lot of medical expenses that Medicare does not completely pay for, or just does not pay for at all, and having a supplemental insurance policy to fill in these gaps can save you from paying tens of thousands of dollars for medical treatment.
For example, Medicare does not really pay for cancer treatments, which are extremely expensive, and the patient is left paying out of pocket for radiation, chemotherapy, and everything else. Having a Medicare supplemental insurance plan can really help you save money. While the premium may seem like a lot, it can save you from spending all your retirement money on medical expenses.
And while it is natural to worry about affording a supplementary insurance policy on a partly or completely fixed income, there are many options available to retirees. You can always shop around for the best supplementary insurance policy deals, and in fact, should be encouraged to do so. You definitely should not sign on with the first company you come across, either. Most private insurance companies provide at least one type of supplementary insurance, and they are a great starting spot for your search. You can find a policy that will cover the gaps in Medicare that you can afford if you are willing to search around a little.
Even if the supplementary insurance is just a little out of your price range, you will definitely be thankful for it later, when you do not have to pay thousands for medical treatment. On a fixed Social Security income, having to pay for treatment can be disastrous. And it is a lot less worrying to have that risk of paying hanging over your head.
It definitely pays off when you have a Medicare supplemental insurance policy. Without it, your medical insurance really is incomplete. Don’t believe the rumors that Medicare does not pay for anything, or pays for everything. Both are untrue – Medicare will pay for most things, but not always completely, and some things it won’t pay for at all. Having a supplemental insurance plan is always a good idea.
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