Health costs continue to Rise Medicare supplement insurance could be the answer.

The costs of health care in retirement are going up… again, maybe the need for a medicare supplement plan isn't such a bad idea. A couple retiring this year will need about $225,000 in saving to cover health care costs during retirement, according to an annual survey conducted by Fidelity Investments. That’s up 4.7% since last year. The rising cost is attributed to increases in such things as the cost of a doctor’s visit; increased use of medical services; and, rising costs associated with new treatments.

So maybe a medicare supplement plan also known as a medigap plan could be the answer for you. Additional retiree health insurance can help cover extra health care costs and prescription drugs.

Fill the gaps of your original medicare with products like Medicare Supplement Insurance

Medicare Supplement (Medigap) Plans fill the gaps that Original Medicare doesn’t cover. A variety of plans are available to pay deductibles and coinsurances and provide additional coverage for long-term hospital stays once you exhaust your lifetime reserve days. If you enroll in one of these plans within six months of first becoming eligible for Medicare Part B, you are guaranteed acceptance into any Medicare Supplement plan offered in your area. After this guaranteed enrollment period, you may be required to answer medical questions, and you may be denied coverage. So, if a Medicare Supplement plan is right for you, sign up during that period even if you are healthy at the time you are first eligible. If you wait until your health deteriorates, you may not be able to purchase a Medicare Supplement plan, or you may have to pay much more for it.