Medicare only going so far?

By Ethan Nobles on 1:02 AM

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It’s a common story – Medicare is useful as far as it goes, but it doesn’t quite cover everything, does it?

When it comes to Medicare, there are almost always out-of-pocket expenses and other items that simply aren’t covered. What can one do to close that “gap” between what Medicare does and does not cover? One can either shell out some cash to make up the difference or invest in Medicare supplement insurance.

Such insurance has always made a lot of sense, but particularly in this day and age. Consumers are hit with escalating medical costs and a rotten economy – a one-two punch that can catch a Medicare recipient in a serious trap if a medical condition takes hold and proves to be costly.

The good thing about such supplemental insurance is that the costs are reasonable, particularly when one considers that “one size fits all” policies aren’t the rule. One can choose the level of coverage they need and pay only for the appropriate amount of coverage.

It all boils down to a simple cost-benefit analysis. While there are times that people spend years paying for insurance to protect against an emergency that doesn’t happen, that’s not the case with Medicare supplemental insurance. Typically, making an investment in that coverage will pay for itself sooner rather than later.

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