Ancillary Products

Many Medicare beneficiaries enhance their Medicare polilcies with ancillary (or "complimentary") products designed to help them cover specific risks/concerns that Medicare does not address.

While not required, they help beneficiaries deal with the financial burdens of both major and routine expenses not routine covered by Medicare.

In many cases the cost of the premium is far outweighed by the benefit.  

Additionally, unlike health insurance which pays the Provider, these plans typically pay the beneficiary (You!) directly.  You can use the money any way you choose, helping you get through a difficult medical situation without adding a financial burden.

These include:

• Dental Insurance - Medicare does not cover routine dental procedures & cleanings.  Annual maximums up to $6k and 2 or 3 cleanings per year!  Many let you see any dentist.  Some include Vision coverage as ann add-on.

• Vision Insurance - Medicare does not cover routine vision issues.  Stand-alone or as part of a Dental plan provides coverage for exams and glasses/contacts.

• Hearing Insurance - Medicare provides no coverage for hearing aids which can run into the $1000s.  Hearing insurance provides coverage usually combined with a Dental plan.  

• Hospital Insurance - Advantage Plans typically have co-pays for hospital stays ranging from $300-$500/night for a set number of nights (5 is typical).  It will also pay Skilled Nursing (rehabillltation) which runs around $190/day for days 21-100.    

• Cancer & Critical Illness Insruance - These plans pay cash to the policyholder for a diagnosis of an internal cancer.  The money can be in a lump sum or paid out over time as you undergo treatments.

• Long-term Care (LTC) - Surprisingly to many Medicare does NOT cover long-term care costs.  Whether in a facility or at home, without insurance the huge expense of care must be paid for out-of-pocket through savings or through Medicaid once all other assets have been spent down.  A must to consider if you have assets to protect or heirs you would like to leave a legacy to.

• Short-term Care - a less expensive alternative to LTC it provides coverage typically for a year or less.

• Travel Insurance - Medicare does NOT cover you outside of the US.  Some Supplements and Advatnage plans do add some limited coverage.  For many planning extended stays outside of country, Travel Insurance provides piece of mind and far more comprehensive coverage at an affordable price.