It’s not hard to find stories about the hardship caused by health care expenses. The horror stories abound … except when it comes to Medicare. I find that curious.
Medicare has no out-of-pocket limit. While the Part B deductible is modest, if you are living mostly or entirely on Social Security, no deductible or out of pocket cost is modest. Then there is Part A with a significant deductible and coinsurance possible.
Part D is another factor. So, the cost for health care for retirees is significant, But what about Medigap coverage? True it can remove many out-of-pocket costs, but 23% of beneficiaries ( it can cost a couple $400 a month in premium +-) do not have that additional coverage and thus are exposed to high costs.
So, isn’t it curious that we don’t here more horror stories about those with Medicare?