Learn About Extra Insurance Benefits | Medicare Health Benefits

Learn About Extra Insurance Benefits

Extra Insurance Benefits Are Available

While Medicare is a great solution for helping you pay for hospital visits, doctors visits, and prescription drugs, it does not cover everything. That’s why most major insurers offer separate plans that provide specific coverage for cancer, heart attacks, strokes, and more. They also usually offer ancillary benefits like life insurance and final expense policies. What extra coverage do you need?

Short-Term, Hospital Indemnity

A short-term health care plan can work either as an alternative to a full-time health insurance plan, or an add-on to provide extra coverage. These plans usually come in three, six, or twelve-month forms. Hospital Indemnity, on the other hand, will provide extra coverage for long-term hospital stays. The average cost for one night in the hospital is between $1500 and $3000. Medicare Part A will cover most of that cost, but not all of it.

These plans are not Medicare, so they don’t work the same way. You’ll have to send in a claim that states what you paid for your hospital visit, and your hospital indemnity or short-term care provider will send you a check for a predetermined percentage of that amount. If you foresee any major medical procedures, one of these plans may be a good addition for you to save more money.

Heart Attack, Stroke, Cancer

Medicare Part A and Part B will cover any hospital stays and doctor visits related to heart attacks, strokes, and cancer, but you will have additional costs. A separate cancer policy, heart attack policy, or stroke policy can help by sending you a check when you are diagnosed. Then, you’ll be able to use that check to pay for anything from income replacement to home health care.

Dental, Vision, Hearing

While you can get dental, vision, and hearing coverage with a Medicare Advantage plan, individual plans are options to consider.

Original Medicare alone (Parts A and B) will only pay for dental, vision, and hearing costs if the services are part of your yearly physician well-visit. Additionally, if you are hospitalized and have jaw surgery, Medicare Part A can cover that dental work. However, if you need a tooth pulling, an eye doctor appointment, glasses or contacts, or a hearing aid, you’ll need more coverage. You can either purchase a Medicare Advantage plan that has dental, vision, and hearing coverage or purchase individual dental, vision, and hearing plans.

Life & Final Expense

Though it’s not easy to think about, you will incur some extra expenses at the end of your life. Your spouse, close relative, or friend will likely become responsible for your funeral and burial expenses, final medical bills, and any outstanding debt you have. You can buy a life insurance plan to help cover any debt you leave behind, and a final expense plan to help pay for your final bills.

You have a few options when it comes to life and final expense. You can purchase short or long-term life insurance, depending on your needs, and you can choose the value. Some plans can even be turned it for cash value. You’ll need to appoint a beneficiary to receive the benefits when you pass away.

Get Your Benefits

Medicare does not supply these benefits to everybody because it will raise premium costs, and not everybody needs them. When you initially enroll in Medicare, your agent cannot legally discuss extra products. Agents need additional permission to discuss products other than Medicare, so you’ll need to make a new appointment to discuss other product options.

To set up an appointment or speak with a licensed and local agent, call 1-844-431-1832.

Anastasia Iliou
Senior Content Manager
Anastasia graduated from Belmont University with a Bachelor's degree in Songwriting. When she's not writing, she's on a mission to visit all 50 states in the U.S (and to date has reached 36). Anastasia loves writing music, hiking, and playing with her pets (hedgehog, cat, and dog). She loves animals (but not so much bugs) and spends her free time volunteering for The Elephant Sanctuary in Tennesee.