I am approaching retirement and until now have always had employer sponsored health care. Should I now consider buying supplemental health coverage in addition to Medicare? If so, what types of plans should I consider?
Yes. First, the medicare system is not consumer friendly in that there are many different coverages, such as Medicare A, B and D. Each of these government sponsored plans, A, B & D, cover different items relating to your medical benefits coverage. Medicare part D, which is the newest member has caused some consternation among the public due to it’s complexity to understand. Therefore, there are many brokers who specialize in this area and can assist you make the right decisions. Once you have an expert on your team, to which there is no cost, the expert broker can detail for you what each plan covers. Finally, it is advisable to find a supplemental policy to fill in the gaps where Medicare falls short.