Message Font: Serif | Sans-Serif
 
No. of Recommendations: 3
Each is better than nothing, but do not expect your medical expenses to decrease when you are on Medicare. Big copays, big deductibles, large numbers of specialists who do not take Medicare, etc.

Its not impossible, but it is unusual to have high out of pocket costs under Medicare. Medigap and Part D drug coverage...even the basic plans...will limit out of pocket to a few thousand dollars, while the better coverages, particularly Medigap Plan F, will cover just about all medical out of pocket.

The conditions I can think of that will be high out of pocket while under Medicare are

- Getting medical services not covered by Medicare
- Not enrolling in part B or part D coverage with no other insurance
- Getting expensive dental procedures, such as a bunch of implants

The only groups I've come across that are paying more in premiums and copays under Medicare than what they were formerly paying are Government workers, particularly the Military retirees with Tricare. For just about everybody else, Medicare part B + Medigap + part D, or Medicare part B + MA plan is less expensive that what they were paying.

BruceM
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.