The following charts make it easy to see that, even with Medicare, you need additional protection from potential medical costs.
Medicare Part A
When You Are Hospitalized: Medicare Covers: You Pay: 1 to 60 days Most confinement costs $716 deductible after the required Medicare deductible 61 to 90 days All eligible expenses, $179 per day copayment, after a per-day copayment or as much as $5,370 91 to 150 All eligible expenses, $358 per day copayment, days after a per-day copayment or as much as $21,480 (These are lifetime "Reserve" days, which can never be used again) 151 days Nothing 100% of costs or more At least All eligible expense for After 20 days, 3 days and the first 20 days, then $89.50 per day enter a all eligible expenses for copayment, or as Medicare- days 21-100, after much as $7,160 approved a per-day copayment skilled nursing facility within 30 days after hospital discharge
Note: Your total potential gap in Medicare Part A coverage is $34,726!
Medicare Part B
When You Incur Expenses For: Medicare Covers: You Pay: Doctor's Office Visits 80% of all "approved" $100 deductible charges, after the plus Surgeon's Fee required Medicare 20% of all deductible Medicare-approved Anesthesiologist's Fee charges plus Ambulance Services 100% of any excess charges Speech Therapy above Medicare's approved amount Diagnostic Tests Durable Medical Equipment