Insurance News
September 1, 2018
How Will You Handle Medical Emergencies When You Retire?

You’ve been saving your whole life for the moment you’ll no longer have a job tying you down to the same old routine. You may be counting on those savings to take that trip you always wanted, or simply be closer to family and friends. Whatever you’ve been saving for, the last thing you want to spend your retirement funds on is an unexpected medical emergency.


Medical expenses can drain your savings if they catch you off guard. It may be hard to imagine needing a medical emergency plan for your golden years now, while you’re healthy and much of your retirement is ahead of you, but health care has become one of the largest retirement expenses for seniors, and the costs are rising every year.


When your health begins to decline, you don’t want to be left wishing you planned ahead. So how can you prepare for an unexpected medical emergency in retirement?


“I’ve got Medicare. Doesn’t that take care of it?”


Medicare is a good start, and lots of people rely on it, but it only covers a portion of the health expenses you’ll have in your old age. That’s why so many retirees also have a Medigap plan.


Medigap is extra medical insurance coverage that acts as a supplements to a Medicare health plan. Medigap fills in the gaps where your Medicare coverage doesn’t quite reach, helping to reduce the costs that you’re responsible for when it comes to health expenses.


Reasons you may want to consider a Medigap plan include (but aren’t limited to):

  • If you’ve got a family history of health complications, you may be able to anticipate what kind of health issues are on the horizon. Medigap is a smart way to play it safe with your financial future.
  • Hospital visits are always an expensive endeavor. If you think you’ll need surgery in your old age, or may have a chronic condition that results in regular hospitalization, Medigap will lighten the load of those hospital costs.
  • If your retirement plan includes a trip overseas, Medigap has got your back. Medicare will not cover expenses for medical emergencies in foreign countries, but some Medigap plans will.
  • If you expect to be visiting your primary care provider or a specialist a lot, you may want Medigap. Medigap limits your maximum out-of-pocket expenses for copays and deductibles.


If you think you may need Medigap your health and financial well-being in retirement, call 215-538-1865 to speak to a Warren Weiss agent about what our Secure Legacy Program can do for you.

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