{"id":1246,"date":"2014-10-15T16:50:58","date_gmt":"2014-10-15T16:50:58","guid":{"rendered":"https:\/\/www.freeway.com\/knowledge-center\/?p=1246"},"modified":"2025-01-20T15:30:25","modified_gmt":"2025-01-20T15:30:25","slug":"medicare-doesnt-cover-everything-be-prepared","status":"publish","type":"post","link":"https:\/\/www.freeway.com\/knowledge-center\/health-insurance\/understanding-health-insurance\/medicare-doesnt-cover-everything-be-prepared\/","title":{"rendered":"Medicare Doesn’t Cover Everything \u2013 Be Prepared"},"content":{"rendered":"

Ideally, retirement is supposed to be time to relax and enjoy life, free from everyday worries. If you\u2019ve got your health care covered, that goes a long way towards giving you peace of mind.<\/p>\n

The hard truth is that Medicare doesn\u2019t cover all health costs for people 65 and older. According to a Mount Sinai School of Medicine study, during the last five years of their lives, as many as a quarter of Medicare recipients spend more than the total value of their assets on out-of-pocket health care expenses \u2013 expenses like co-payments, coinsurance and costs that aren\u2019t covered by Medicare<\/a>.<\/p>\n

Under Original Medicare (Part A and Part B), the federal government pays your health providers for medically necessary procedures, equipment and care.<\/p>\n

Part A<\/strong> \u2013 mainly for hospital coverage, includes some nursing care and hospice costs.<\/p>\n

Part B<\/strong> \u2013 covers physician appointments, labs and testing and medical equipment.<\/p>\n

But, it\u2019s what they don\u2019t cover that can add up in the thousands of dollars a year.<\/p>\n

What\u2019s Not Covered by Medicare<\/h2>\n

Many health expenses covered by private health insurance policies are excluded from Medicare Part A and Part B. Items not<\/strong> covered include:<\/p>\n