While certain plans with Medicare benefits provide a fairly comprehensive coverage policy, there are still out of pocket costs that one must take steps to avoid.
Medicare insurance is the best way to protect oneself from regular medical situations, such as prescription medicines and visiting the doctor, as well as for hospital emergencies. However, it is important to remember that no plan is fully comprehensive. There are plenty of out of pocket expenses that come with even the more comprehensive Medicare plan. This becomes particularly pertinent when a patient has to spend an extended period of time in hospital or hospice care. In these cases, not all of the costs are covered by Medicare benefits.
If a complement to Medicare benefits is something a person is looking for, then supplemental insurance is the right move. The great thing about supplemental insurance, from companies such as Colonial or Aflac, is that out of pocket expenses are rendered completely irrelevant. A regular hospital stay supplemental insurance plan will ensure that a great deal of money is paid out ($10,000 to $20,000) in emergency situations. This money will more than take care of any out of pocket expenses that come from the Medicare benefits package.
Supplemental insurance plans only cost a few dollars a month, but the protection that they bring is priceless. Even a good Medicare benefits plan could leave someone with thousands of dollars of debt after their hospital stay is over. While someone well off could pay this with ease, not everyone is in such a situation. Many go into tremendous debt and may even have to deal with bankruptcy as an option. Avoid all of this by getting supplemental insurance. After all, is nothing more important than financial security and health.