In previous posts we’ve touched on the fact that Medicare doesn’t cover everything. In fact, on average, Medicare covers only around 50% of a senior’s healthcare costs. Medicare supplement (Medigap) plans are an ideal choice to help fill in the gaps of Medicare, but they also have their limits. For …
Spotting Medicare Fraud: Tips for Medicare Recipients
Medicare has no official estimate for the amount of money lost to fraud in the Medicare program every year; however, the FBI estimates that anywhere between 3 and 10 percent of all healthcare expenditures are attributed to fraud. Whatever the true dollar amount lost to Medicare fraud every year, it …
Should I Buy Long-Term Care Insurance?
Our last post addressed how Medicare covers long-term care—which is to say, it generally doesn’t. Medicare only covers medically necessary services for limited amounts of time. Long-term care generally refers to personal and medical services for people with chronic illnesses, disabilities, or limitations in their ability to function independently. Medicare …
Is Long-Term Care Covered by Medicare?
Long term care generally refers to personal and medical services for people with chronic illnesses, disabilities, or limitations in their ability to function independently. It’s important for seniors and their loved ones to know that Medicare only covers medically necessary care in certain circumstances, and for a limited time. Medicare …
Seniors Age 65+: Four Programs that May Help Pay for Medical Expenses
It is a common misconception that Medicare is a free program. The reality is that, while most people won’t pay a monthly premium for Medicare Part A (hospital insurance), Medicare Part B (medical insurance) has a monthly premium of $104.90 in 2015 (for most people). In addition to the Part …
What Are Medicare Private Fee-For-Service (PFFS) Plans?
A Private Fee-For-Service, or PFFS, plan is a type of Medicare Advantage (MA) plan that is administered by a private insurance company. PFFS plans are an alternative way to get your Medicare benefits. Medicare pays the PFFS plan a set amount of money every month to provide health care coverage …