Could Make Medicare Supplemental Health Insurance a NecessityMarch 2008
This week the U.S. Supreme Court refused to hear a legal challenge brought by the AARP against an Equal Employment Opportunity Commission ruling that employers can reduce medical insurance benefits for retirees who reach age 65 and become eligible for Medicare. With costs for important health care treatments and life-saving medications predicted to continue their rise, will
Medicare supplemental health insurance become a future necessity?
The answer could easily be "yes." With baby boomers set to retire in record numbers in upcoming years, and health care costs to reach unprecedented highs by 2011, Medicare will soon be facing a financial burden that could spell trouble for the millions of older Americans relying on its services.
Medicare supplemental health insurance was originally designed to fill in the gaps between what Medicare covers, and what some older Americans need in their medical insurance plan. It's sold by private insurance companies, and there are 12 different standardized policies to choose from, each covering different services, at variable rates.
Facts on:
Medicare
Did you know...
More than 42.3 million older Americans rely on Medicare?
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But for older Americans who are still working, this new ruling means that once they become eligible for Medicare the benefits they had enjoyed from their employer can be cut, and if any treatments or medications aren't covered by Medicare, their only hope is Medicare supplemental health insurance.
There has been much talk lately of changing the American
medical insurance system to provide better coverage for all Americans, but few of these arguments have addressed the fate of Medicare. For those older Americans whose employers may now be cutting their health benefits, it's very important to understand what is and isn't covered by Medicare, and to research coverage options
before you find yourself without the health care services you need.
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