Question:

Hello...I am 60% service connected, just turned 65 in April, and signed for up for SS and Medicare part A. Can you recommend a supplement to offset costs of deductibles and copays? Any other advice?

Jim's Reply:

The American approach to health insurance is unique. We can pick and choose from different insurance policies available to us, pay an enormous premium for all that and still lack coverage we need.

Health insurance is also uniquely personal. Only you can make the choices for just what level of coverage you're going to be comfortable with.

I use VA health care only when it's convenient, which it never is. I do stay registered in the VA system for the pharmacy benefit. The pharmacy services at VA actually work pretty well and you won't beat the cost.

I take Medicare Part A because it's required...you can't dump Part A. I take the elective Part B because that's very good coverage at a very low price and since I avoid VA outpatient services when I can, Part B is my most used insurance policy. While there is a deductible I find that the deductible is affordable...often less than 20 dollars or so. If you don't sign up for Part B at the first opportunity, signing up later will cost a penalty that grows over time.

I don't use Medicare supplements or Medigap policies because they're so expensive. I figure the hundreds some cost each month will be better spent if I discipline myself to stash that money away and use it for copays or unexpected expenses.

Insurance is a gamble. I accept some financial risk up front by not making myself insurance poor over the long haul. I plan my health care expenses as carefully as I can and I'm critical of any company that wants my hard earned money. I have doubts that supplements are worth it. Good luck!