Two Reasons Why It's So Important To Have A Supplement To Your Medicare Insurance Plan

If you have recently been approved to receive Medicare coverage, the next question on your mind likely revolves around whether or not you need supplementary coverage.  You don't want to be stuck holding a hefty medical bill, but you're also concerned about stretching an already tight budget by taking on more insurance coverage that you may or may not need.  Use this information to learn more about why it's so vital for you to have a supplementary policy to your Medicare plan.

Being Hospitalized Could Drain You Financially

One of the most compelling reasons why it's so important to have a supplement to your Medicare plan is because becoming hospitalized could potentially wipe you out financially.  You need some form of protection in place that can help cover the costs associated with an extended hospitalization that could completely drain your budget.

For example, under Medicare, you can stay in the hospital for up to 60 days and are only responsible for a deductible of $1,260 for each benefit period.  However, if your stay exceeds 60 days, the expenses could quickly add up because you will be charged $315 per day for days 61 through 90.  Just think about the prospect of being in the hospital because of a vehicular accident, a slip-and-fall or any other ailment that could possibly leave you in need of an extended hospital stay.  If you don't take the time to get a supplement now, you may end up paying for it later in the form of a large hospital bill.

Non-Covered Drugs Can Be Pricey

Another reason why you need a supplement is because there are certain drugs that are not covered under Medicare.  This is an important point to keep in mind, because if you ever happen to need one of these drugs and don't have the extra coverage, you will either have to do without, or possibly break the bank to get them yourself.

Many of the drugs that are not covered by Medicare deal with issues that are central to a person's quality of life.  For instance, if you find yourself with thinning hair and decide that you want to get a prescription drug to help fix the problem, your Medicare policy may not pay for it because it isn't considered central to one's health.

Getting a supplementary policy is one way to ensure that you have covered all bases.  Purchase a supplement to your Medicare policy today so you can have the peace of mind that comes with full coverage.

For more information, contact Senior Care Insurance Services or a similar organization.