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long term care vs. (and) Medicare supplement

By Terry Savage on April 12, 2019 | Insurance

hi Terry. Regarding long term care but my wife and I spoke of secondary insurance (blue cross/blue shield). My mom had secondary and she basically paid ZERO $ $ for numerous hospital and doctor visits. she paid $300pm for blue cross. BUT she had no long term care insurance. We R 62 years young. Should we plan LTC or Secondary Sup. to Medicare ??? both r EXTREMELY Expensive and we think we can only choose one or the other.

Thank You Terry. We will Be listening on WGN !!

Terry Says

You can’t afford NOT to have both a Medicare supplement AND Long Term Care Insurance.  The supplement is essential because there is so much traditional Medicare doesn’t cover — copays, being the most expensive. AND you need Medicare Part D — for prescription drugs.  That’s required.   But Medicare does not cover long term custodial care — only 60 days in skilled nursing facility, and only after a hospitalization.  The costs of needing custodial care will wipe out your assets — leaving little for a surviving spouse.  I’m writing a new edition of The Savage Truth, and just finished that chapter.  I will turn it into a column very soon.  In the meantime, read my most recent article about LTCI.

For pricing, contact MAGA LTC in suburban Chicago and ask for Brian Gordon — 800-533-6242.  They are my trusted experts.

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