Turning 65? Three Surprising Things Medicare Won't Cover

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Once a person turns 65 years of age and begins receiving Medicare, they are often surprised to learn that this federal health insurance program doesn't cover everything. This means the retiree may need to budget additional money towards their health care needs. Here's a look at three things Medicare won't be paying for you:

Your Prescription Medication

Upon turning the age of eligibility, you will be enrolled in Medicare, which consists of two parts. Medicare Part A covers care relating to inpatient hospital stays, limited home healthcare services after a qualifying hospital stay, hospice care for those with a terminal illness, and a temporary stay at a skilled nursing facility after a qualifying hospital stay. Medicare Part B covers outpatient care, some preventative services, durable medical equipment, and ambulance services.

While Medicare Part A may cover any medications you receive while in the hospital, at hospice, or in a skilled nursing facility, neither Part A or Part B will cover your routine prescriptions. Medicare Part D is an additional rider that can be added when you first become eligible for Medicare, when you lose other prescription drug coverage, or during the autumn open enrollment period. Medicare Part D premiums are quite reasonable, and unless you make $85,000 a year or more you won't have any premium to worry about.

Long-Term Nursing Home Care

As technology continues to grow and medical care improves, the average life expectancy continues to increase. By the year 2050, 20 percent of the population is projected to be over the age of 65. The downside of living longer is that no matter how healthy someone is, there eventually comes a time when many senior citizens can no longer care for themselves. This is especially true in those who develop Alzheimer's disease or other types of dementia. Nursing homes and assisted living facilities are expensive, and this is not an expense the federal government is willing to take on. Seniors should consider purchasing a long-term care insurance policy to meet their needs. Some insurance companies combine long-term care insurance with life insurance.

Dental Care

As one ages, so do the teeth. Routine dental care, such as cleanings and checkups, become even more important as poor teeth can lead to malnutrition or even contribute to heart disease. Unfortunately, checkups, hygienist visits, fillings, extractions, and dentures are all dental services that Medicare doesn't cover. Supplemental dental plans can be purchased, but their benefits are often capped at $1,500.

For more information about Medicare benefits, contact companies like Senior Advisors.

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25 August 2018