Will Medicare Expansion, Cuts, Lead to More Medicare Supplemental Insurance?
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But according to the article at Reuters about potential Medicare law, there could be both cuts and expansions in the future.
How will this be managed? Probably via lowered services for some people.
How can people protect themselves from these lowered services? With Medicare supplemental insurance.
The article states that under the most recent proposals on the table, Medicare would be available to Americans as young as 55 and who lack affordable coverage.
But at the same time the program could be facing cuts up to $500 billion dollars. Granted many of those cuts are supposed to come out of fraud and other misappropriations, but it's hard to say exactly what will and won't be cut.
This means that while more people will have access to Medicare, those who are younger and don't have as many health complications probably won't have the best coverage.
Unless they pay a little more for it. In other words, supplemental insurance.
Supplemental insurance is often purchased by individuals who feel that Medicare won't offer enough protection for them. Supplemental insurance might cover a more extended hospital stay, for example, than is offered via Medicare, or it might offer better hospice care or physical therapy.
Supplemental insurance is already very popular for those 65 and older, and if the current health care legislation passes at the end of the year, it might become even more popular in 2010.