Massachusetts Medicare Supplement Insurance – Not Free But Worth It
When getting health insurance in Massachusetts, it is important to keep out of pocket costs in mind. Most Medicare policies are comprehensive enough, but they do carry costs that you must pay in the event of an emergency. For example, almost all Medicare policies have a deductible if you visit the emergency room, require surgery, spend time in the ICU, or require certain prescription drugs. For these situations, it may be wise to think about Massachusetts Medicare Supplemental insurance plans (Or better known as Medigap Insurance). Instead of viewing it as an extra monthly expense, think of Massachusetts Medicare Supplemental insurance as the policy that will save you thousands of dollars during medical emergencies.
Massachusetts Medicare Supplemental Insurance What you Should Know
The reason Massachusetts Medicare Supplement insurance is seen as so important is because of the gaps that exist in all Medicare plans. There are three main parts to any Medicare plan: hospital coverage, medical coverage, and prescription drug coverage. These parts will combine to provide a decent amount of care to individuals and families. However, there are holes in all policies, and Massachusetts Medicare Supplement insurance is there to plug all or some of those gaps.
In Part A, most hospital policies include a certain percentage of the cost if a person stays at the hospital for less than a week, with the percentage decreasing dramatically for stays over a week. This can mean thousands of dollars in out of pocket expenses for patients who are seriously injured/ill. When lost income is added into the mix, it is easy to understand why Massachusetts Medicare Supplemental insurance is required.
In general, most Medicare policies will only cover around 80% of healthcare expenses, with co-pays, co-insurance and other deductibles also included in the mix. That can add up to a lot of money, especially for families that cannot afford it. For those families, it is time to get a Massachusetts Medicare Supplement insurance policy.
Types of Massachusetts Medicare Supplement Insurance
Medical Insurance With a Piece of Mind –
If you are involved in a car accident, the resulting medical expenses and time lost at work can add up to a lot of money. Medicare could have a deductible higher than $2000 for hospital visits of less than 60 days. In addition, only a percentage of the total cost is covered.
By paying a reasonable monthly payment for a Massachusetts Medicare Supplement, you will be able to potentially save the thousands of dollars that you could have paid out of pocket. This money can be used how you please. You can pay off your rent/expenses, or take a few extra weeks off work to fully recover.
Hospital and Cancer Insurance Covered by Supplemental Medicare plans –
Massachusetts Medicare Supplemental Insurance is most important when you are faced with an illness that leaves you in the hospital for a long period of time. In many cases there is nothing you can do about the illness. It comes unexpectedly, and simply will not go away. Whether it is cancer, or any other type of illness, supplemental insurance can provide you with a piece of mind knowing that all or most of the costs will be covered.
With Massachusetts Medicare supplemental insurance, it is possible to focus on your recovery instead of worrying about finances. After all, there are countless cases of families that had to file for bankruptcy because they could not deal with the out of pocket expenses and loss of earnings associated with an extended hospital stay.
Even though Medicare is some of the best insurance around, it is a good idea to look into a Massachusetts Medicare Supplement insurance plan in order to give yourself and your family the best protection possible.