Q:Do I Need To Consider A Medicare Supplement Plan?
Dave does recommend Medicare Supplements and options can be challenging to review since they can change from state to state. The supplement plans pick up where Medicare falls short, but part of your option is to use your emergency fund to help cover some of these costs. There are Medicare Advantage plans in certain areas which are basically private health insurance companies that take over completely for Medicare and often provide broader benefits at lower costs. However, many operate like an HMO which offer higher benefits but more restrictive physician and hospital lists. Since future medical expenses are some of the primary reasons that people run out of savings during retirement, having a supplement plan can be very important. You should look at the overall costs and benefits of each plan reviewed and remember to use your emergency fund to help in this calculation. You can visit our website, www.zanderins.com, and compare rates for plans in your area online.