Medicare Supplements and
Medicare Advantage Plans
Many people getting close to retirement age make the mistake of thinking that signing up for Medicare at age 65 means they won’t have to pay for health care expenses in retirement, only to find out that Medicare premiums are higher than they expected—and that they get taken out of their Social Security checks.
Not only that, but there are many, many things not covered by original Medicare, such as your deductibles and co-pays, dental, vision, hearing and the cost of prescriptions. In fact, health care expenses are a huge chunk of any retirement budget—even with Medicare. A healthy 65-year-old couple can expect to spend $285,000 in today’s dollars to cover Medicare premiums and out-of-pocket health care expenses, not including long-term care. Living longer not only increases yearly health care outlays, but your chances of developing more serious health issues tend to increase as you get older.
Long Term Care
Is Not Covered
Very importantly, a long-term care stay in a Medicare-approved care facility is not covered after 60 days by Medicare. In the case of long-term care, most people confuse Medicare with Medicaid nursing home coverage, which requires a complete spend-down of assets to qualify—and can bankrupt a spouse or leave heirs with no inheritance at all.
At Simon and Simon Financial, you don’t have to wade around alone or worry about trying to understand the complex world of Medicare, because we offer Medicare services right here in our offices to help you find the right Medicare supplemental or Medicare Advantage policy to fit your particular needs and wants. We also offer many options for long term care insurance to help protect you.
Our Unique System to
Help You Select a Plan
Simon and Simon Financial’s licensed Medicare agents have created a proprietary plan comparison system that compares all the Medicare insurance plans offered in your area. It is the most comprehensive, unbiased review of all of your Medicare insurance options that we’ve ever seen, and we don’t know how retirees can understand their choices any other way.
Our job is to simply show you what is available, then you decide if it is right for you. We will help you review your Medicare supplemental or Medicare Advantage policies annually, helping ensure that your coverage keeps up with changes in your health as well as any policy changes made by carriers, such as premium increases.
