Why You Need Medicare Supplemental Insurance (even if you are healthy!)
Of course every senior citizen hopes they stay active in their retirement years, and good health is a big part of that. But contrary to what you may believe, did you realize that staying healthier as you age, might actually cost you more in healthcare bills?
It's true, a recent study by the College Center for Retirement Research found that good health can actually be costly in your later years.
The researchers studied the often-complex relationship between health status, health insurance coverage, and healthcare costs among healthy and not so healthy retirees. The study came to a somewhat surprising conclusion. Although obviously at the present time, healthy retirees certainly pay less for healthcare than unhealthy ones - seniors in good health actually face more in total healthcare costs over their remaining lifetime then their unhealthy brethren. Why? Because they will presumably live that much longer - and statistically face greater health problems later in life, as they get older.
And that is why now more than ever, if you are on original government Medicare and have not thought about a Supplemental Medicare Policy to make up for gaps in Medicare Part A or Medicare Part B - it's well past time that you should!
Supplemental Medicare also called Medigap insurance was designed to make up for the shortfalls, or medical expenses that are not covered by Medicare Part A or Medicare Part B. It is these very additional medical expenses that the researchers in the Study were alluding to, and that can tend to add up as healthy people live longer, and think that Medicare will take care of all of their medical bills.
Recent changes in available Medigap plans have made them easier to understand and more affordable than ever. The plans are standardized by the government, but they are sold by private insurance companies, so the rates can and do vary. And remember, you only qualify for a Medicare Supplemental insurance policy if you are enrolled, (or will enroll) in original, (as opposed to Medicare Advantage) Medicare.
Now all this is not to say you should not take care of yourself and strive to live a happy long and healthy life - quite the contrary. You should do everything you can to be healthy and stay healthy - just be adequately prepared emotionally, physically and financially to live a longer life - and a good Medicare Supplemental Insurance policy is one way to do that!