A Medicare supplement plan is crucial in providing the coverage you need for retiring on Medicare. Medicare Part A is your hospital benefit and has a HUGE deductible every time you enter the hospital it’s $1,316( in 2017). That’s just for your stay in the hospital. Anytime a doctor looks at you, tests, you, administers treatment or you have anything done by a nurse, all of that is billed under Medicare Part B. Medicare Part B only pays 80%. That’s a lot of financial exposure under just Medicare A&B.
A Medicare supplement will cover all those gaps for you, leaving you with nothing or almost nothing in out of pocket expenses. Medicare supplement Plan F pays 100% across the board. Medicare supplement Plan G pays 100% across the board except for a small annual deductible of $183 (in 2018).
So unless you’re incredibly wealthy it’s very important to get a Medicare supplement to go with original Medicare A & B. On a final note, if you’re considering Medicare Advantage, head over to this page on my website and look at a comparison between Medicare Supplements/ Medicare Advantage: https://washingtonmedicareplans.com/medicare-advantage/