Medicare Doesn’t Cover These 7 Things.

After you turn 65, Medicare Parts A and B, often known as Original Medicare or Traditional Medicare, pay a significant amount of your medical expenses. Inpatient hospital stays, surgery, hospice care, skilled nursing facility stays, and some home healthcare are covered by Part A (hospital insurance).

Part B (medical insurance) assists in paying for doctor’s appointments, outpatient care, some preventative services, and medical equipment and supplies. 

It’s critical to understand that Medicare Parts A and B create substantial gaps in your healthcare coverage. This is why Medicare Advantage was created to fill in some of the gaps.

Here’s a closer look at what standard Medicare doesn’t cover.

1. Medicare does not cover prescription drugs

Medicare does not cover outpatient prescription medications. Still, you can purchase a separate Part D prescription drug insurance or a Medicare Advantage plan that covers medical and drug expenditures.

2. Medicare does not cover long-term care.

Long-term care is one of the most significant possible expenses in retirement. According to the Genworth Cost of Care Study, a private room in a nursing home will cost around $105,800 in 2020; an assisted-living facility room costs $51,600, and 44 hours per week of home health aide care costs $54,900.

Some skilled nursing services are covered by Medicare but not custodial care, such as assistance with dressing, bathing, and other daily living activities.

3. Medicare does not cover deductibles and co-pays.

Part A of Medicare covers hospitalizations, whereas Part B covers doctor visits and outpatient care. However, deductibles and co-payments are your responsibility. Before coverage kicks in in 2022, you’ll have to pay a $1,556 Part A deductible, and a percentage of the cost of extended hospital stays, $389 per day for days 61-90 in the hospital and $778 per day beyond that.

4. Medicare does not cover most dental care

Medicare does not cover routine dental appointments, tooth cleanings, fillings, dentures, and most tooth extractions. Most Medicare Advantage plans also cover basic cleanings and X-rays, although they usually have a $1,500 annual coverage cap.

4. Medicare does not cover routine vision care

Routine eye exams and glasses are usually not covered by Medicare (exceptions include an annual eye examination if you have diabetes or cataract surgery eyeglasses).

6. Medicare does not cover hearing aids.

Routine hearing checks and hearing aids, which can cost up to $3,250 per ear, are not covered by Medicare. Medicare Advantage plans cover fitting exams, hearing aids, and other discount programs that offer lower-cost hearing aids.

7. Medicare does not cover Overseas Medical Care

Except in very limited instances, Medicare usually does not cover care received when traveling outside the United States (such as on a cruise ship within six hours of a U.S. port).

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After entering the financial services industry in 1994, it was a desire to guide people towards their financial independence that drove Aaron to start Steele Capital Management in 2013. Armed with an extensive background in financial planning and commercial banking coupled with a sincere passion for helping people, Aaron has the expertise and affinity for serving the unique needs of those in transition. Clients benefit from his objective financial solutions and education aligned solely with
helping them pursue the most comfortable financial life possible.

Born in Olympia, Washington, Aaron spent much of his childhood in Denver, Colorado. An area outside of Phoenix, Arizona, known as the East Valley, occupies a special place in Aaron’s heart. It is where he graduated from Arizona State University with a Bachelor of Science degree in Business Administration, started a family, and advanced his professional career.

Having now returned to his hometown of Olympia, and with the days of coaching his sons football and baseball teams behind him, he now has time to pursue his civic passions. Aaron is proud to serve on the Board of Regents Leadership for Thurston County as the Secretary and Treasurer for the Morningside area. His past affiliations include the West Olympia Rotary and has served on various committees for organizations throughout his community.

Aaron and his beautiful wife, Holly, a Registered Nurse, consider their greatest accomplishment having raised Thomas and Tate, their two intelligent and motivated sons. Their oldest son Tate is following in his father’s entrepreneurial footsteps and currently attends the Carson College of Business at Washington State University. Their beloved youngest son, Thomas, is a student at Olympia High School.

Focused on helping veterans and their families navigate the maze of long-term care solutions, Aaron specializes in customized strategies to avoid the financial crisis that care related expenses can create. Experience has shown him that many seniors are not prepared for the economic transition that takes place as they reach an advanced age.

With support from the American Academy of Benefit Planners – an organization with expertise and resources on the intricacies of government benefits – he helps clients close the gap between the cost of care and their income while protecting their assets from depletion.

Aaron can help you and your family to create, preserve and protect your legacy.

That’s making a difference.

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