How much longer will Medicare be around? Can it sustain the influx of Baby Boomers that are becoming Medicare eligible at a rapid daily rate? What options will be available for me? I could go on for about two more pages of the questions that arise when talking about Medicare and its future. The truth is something is going to have to happen to keep Medicare alive; the problem is no one has the right answer. Or do they?
With only having two options to cover the gaps left with Original Medicare, if you are not covered by a group retirement plan, cost of the options continue to go up and with one option benefits continue to go down. The main problem, I believe, is that both Republican and Democrats cannot agree on what option is the best for individuals. So, depending on which party controls the vote, the other insurance option seems to fade away.
Here in Texas I can help explain your options and even suggest to you which coverage would be the best fit for your needs. Texas Medigap insurance plans are designed to cover most, if not all of the gaps left by Medicare. The monthly cost of the insurance could be more than the other option, but depending on what plan you choose; overall medical costs could be quite lower. The other option an individual can look at is a Medicare Advantage plans in Texas. With this coverage it is possible to have a lower monthly cost for your insurance, but you take more of a financial risk with most plans if you have to use your insurance.
The Republicans favor the options of both Medicare supplements and Medicare Advantage plans, but with the recent health care reform signed into law Democrats seem to believe that Medicare Advantage is overall to costly. Who’s right? I wish I could give you the answer, but I am an insurance professional not a politician. As it is my job, I try to keep as up to date as possible with everything going on and found an article that really intrigued me. Could this be where Medicare is going? I do not know, but I felt like I should share it with everyone so that you could gage your own options.