Medicare Cost Sharing

An article was released today in the Washington Post that explains why encouraging Medicare Cost Sharing and eliminating the Medicare Supplement Plan F is a bad idea. After pooling the different insurance companies across the country, statistics show that increasing the cost sharing amount Medicare Beneficiaries does lower the number of times an individual will go to the doctor.

However, the numbers also show that it lowers the preventative care that individuals receive, which raises Medicare costs overall. The insurance commissioners actually wrote a letter warning that eliminating Medigap plans would backfire and raise Medicare costs when seniors don't receive the medical care they need.

Medicare Cost Sharing - Medigap Plans

The Washington Post article also explains that 1 in 5 Medicare Beneficiaries purchased a Medigap plan in 2010, to cover a portion of the expenses not covered by Medicare. Which the large number of those individuals purchased "First Dollar" coverage which protects them from all out of pocket expenses.

A Medigap policy works by filling in the gaps of Original Medicare. So your Part A and Part B deductibles, coinsurance, and copays would be covered by a Plan F Medicare Supplement. This coverage is very beneficial to someone on a fixed budget looking to control their out of pocket expenses. It is much easier to budget based on a single premium versus varying out of pocket costs.

Medigap Rates - Medicare Supplement Quotes

To help fill with Medicare cost sharing purchase a Medicare Supplement Plan. If you are looking to compare rates on different Medigap policies click here. With the Medicare deductibles growing each year and doctor's visits becoming more and more expensive, people are realizing the need for help with Medicare cost sharing. That is why Medicare Supplements continue to grow in popularity.

 

MWG Senior Services helping you with your Medicare Supplement needs.

For more information on Medicare Cost sharing contact our offices at 1-877-759-5760 to speak with one of our senior market advisors.