Original Medicare only covers approximately 80% of medical costs, leaving beneficiaries responsible for the remaining 20% with no annual cap, which can amount to tens of thousands of dollars for serious illnesses or long hospital stays; this financial gap can be addressed through Medicare Supplement (Medigap) plans that fill in what Medicare leaves behind.
Deep Dive
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Deep Dive
Original Medicare has a 20% gap with no capAdded:
Here's something I'm going to tell you about original Medicare. It only covers about 80% of your medical costs. The other 20%? That's on you. With no cap.
So, if you have a serious illness or a long hospital stay, that 20% can be tens of thousands of dollars at least. And that's what a Medicare supplement covers. It fills in what Medicare leaves behind. Without it, you're one bad diagnosis away from a financial crisis on a fixed income. This is the conversation that no one's having with people turning 65. I'm having it. Follow me.
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