The 2 Words That Could Cost Medicare Beneficiaries Everything
Medicare provides health insurance for more than 55 million people who are 65 or older, or who are disabled. While many look forward to the day they'll become eligible for Medicare, once you actually qualify, it may come as a shock that there are serious coverage gaps in this government program.
While there are many things Medicare doesn't cover, one of the most expensive and important services the program won't pay for is a service as many as 70% of people who reach the age of 65 will need: care in a nursing facility.
Whether Medicare covers this expensive service for you or not all comes down to one key thing: whether the care you need is custodial care. These two words -- custodial care -- could mean you're stuck paying thousands out-of-pocket every month for care you vitally need.
Source: Fool.com