The Medicare Premium Increase in 2017 could be substantial when announced on October 1st. Projections have some seniors seeing increases as high as 22% on their Part B Premium. It is estimated 1 in 3 seniors could pay as much as $149 a month. There is also a reported increase of the Medicare Part B Deductible from $166 to $204.
So you’re turning 65, and you may be asking yourself “Do I need a Medicare Supplement.” The answer is yes. Your Orginal Medicare benefits will only cover about 80% of your eligible medical expenses. In this post, we’ll look at two of the potentially costliest Medicare Supplement benefits you cannot afford not to cover.
Medicare Supplement vision coverage only applies to exams, procedures, and therapies covered under Original Medicare Part A and Part B. There are no covered benefits beyond what Medicare offers.
Medigap Plan M and Medigap Plan N offer a different approach to Medicare Supplement coverage. Both Plan M and Plan N cover the same 7 of 9 Medicare Supplement Benefits, but they do it with additional cost-sharing and copays.
In this post, I hope to explain why you shouldn’t worry about Medicare Part B excess charges when shopping for a Medicare Supplement. Currently, the very popular Medigap Plan C and Medigap Plan F are the only plans that pay for excess charges. Hopefully, after reading, you’ll agree that paying for this benefit is a waste of money.