Retirement Essential: Medicare Supplemental Insurance

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Hello there. We’ve previously discussed the importance of requesting for more details on Medicare Supplemental Insurance policies in our last article, titled Medicare Supplemental Health Insurance Quotes Basics. And since Father’s Day is fast approaching, we’d like to dedicate this piece for all the greatest dads in the world by connecting the significance of Medigap policies to every family’s primary providers.

Helping Dad Lift the Heavy Cost Burdens of Care

According to a recent study conducted by Commonwealth Fund, a significant number of Medicare beneficiaries (15 million, or one-fourth of the total population of Medicare policyholders) struggle to pay for premiums and out-of-pocket expenses for health care services. Approximately 20% of a beneficiary’s income is pushed towards these costs – a high percentage to consider, with other financial factors to think and prioritize about during the twilight years.

And to emphasize the rise of health care in the country, the National Health Expenditure Data (from the Centers for Medicare and Medicaid Services) revealed that national health spending is expected to increase every year. With an average rate of 5.6% per year (2016-25), prices for essential health care services may, unfortunately, cost even more than an arm and a leg!

And this is why Medigap policies are highly suggested. By addressing these out-of-pocket expenses (or “gaps,” such as coinsurance fees, copayments, and deductibles), individuals can definitely manage their finances during retirement in a more flexible manner. Particularly for fathers, otherwise the champions and breadwinners of every family, some much-needed help is truly a gift that they will treasure for life!

Saving Some Love – and Cash – for Tomorrow

A FreeMedSuppQuotes article, Requesting Medicare Supplemental Health Insurance Quotes: A Great Way to Celebrate Father’s Day, perfectly details why adult children should consider helping their dads learn and enroll for Medicare Supplemental Insurance coverage. Aside from having the opportunity to set aside cash for their future (which, as sadly revealed by an Insured Retirement Institute Survey, that almost half, at 45%, of its boomer respondents stated to have no funds saved for retirement), Supplement Medicare Plans can also give policyholders the confidence needed to face problems that may arise during retirement. A safety net of a policy that’ll cover the gaps of finances will allow one more time and energy to focus on other details that will matter in life – both problems and opportunities to enjoy the golden years!

But perhaps the most important benefit that Medigap policies can grant fathers is the chance to spend more time with family and close friends. Believe us that having the opportunity to prioritize and build social connections during those years are way better than always thinking about money problems. And for most fathers, who have spent several decades working figures in their head and other ways on how to stretch budgets, don’t you think that they deserve some slack for all their hard work?

It’s another way to say “I Love You” to the best man in your life! Also, the opportunity of guiding your dad on Medicare Supplemental Insurance benefits (from requesting a quote to learning how the different standardized plans differ from each other) can be an experience that you’ll both hold onto. It’s the memories crafted from these experiences that make each day exciting – what more if it’ll be on Father’s Day itself!

Request a Quote for Dad Today

Help your dad out by finding an insurance company to cater his Medigap needs. Find free Medigap quote requests online or talk to agents – anything to help give your father a clearer and better view on a brighter and hopeful future. Happy Father’s Day to dads!

by | June 9, 2017 | No Comments | Tags : dad father father's day medicare supplemental insurance medigap retirement

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