How To Make The Most Of Your Medicare?

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Medicare to some might seem daunting. With all of the information out there, and the potential for having to choose a health care plan to supplement Medicare you might feel overwhelmed. It can be a great time however. The reason is because for the most part you should be able to save quite a bit of money when it comes to your health care costs.

If you are like most people turning 65 and starting Medicare you have been paying quite a bit for medical care. The average 63 year old is paying $425.00 per month for there Major Medical Insurance. For a family of 2 that can mean huge costs of just under $1000 per month for Insurance. You would also have to factor in the costs of co-pays, deductibles, and medications as well. Before you know it you are out of pocket a good chunk of your monthly income.

That is why many people have breathed a sigh of relief when it comes to starting Medicare. It should be mentioned however that Medicare is not a 100% plan. If you have just traditional Medicare there would still be some additional costs on a regular basis for health care.
These costs include deductibles, and co-pays, and also medications. The reason why we find so many people like starting Medicare is the fact that Medicare cost a fraction of what a comparable underage 65 health insurance plan would cost. The only fixed cost for Medicare is Part B which is an average of $115.00 per month per person.
With this low cost of Medicare what most people have chosen to do is to purchase a Medicare Supplement Plan. What a plan like this accomplishes is that you are able to “supplement” what Medicare does not pay for. As of 2011 there are some major expenses Medicare does not pay for like: $1132 Part A deductible, Hospital Co-Insurance, $162 Part B deductible, 20% co-pay for Part B services, amongst other expenses as well. Having a Medicare Supplement Plan depending on the plan chosen can pay for some of these expenses up to all of these expenses. Allowing you to have a fixed cost on a monthly basis that will cover all of your medical expenses. Folks that we have spoken to have found that having a Medicare Supplement Plan can be a painless way to keep costs low, especially when comparing it to the coverage they had previously.