--- title: Protecting Your Pocket from Rising Health Care Costs description: If you are 65 or older you qualify for Medicare. However even with Medicare, you are still responsible for what are known as “out of pocket costs.” image: https://www.tmait.org/hubfs/February%202021/February_2021_Week_4_Medicare_Health.png --- - [800-880-8181](tel:800-880-8181) - [CONTACT US](https://www.tmait.org/contact) - [SELF-SERVICE PORTAL](https://tmait.aebsys.com/#/) [![](https://www.tmait.org/hs-fs/hubfs/TMA%20Insurance%20March%202019/Image/logo.png?width=197&name=logo.png)](https://www.tmait.org/) Topics All Accident Insurance Accidental Death and Dismemberment Auto & Home Insurance Auto Insurance Business of Medicine Business Overhead Expense Insurance Comparing Insurance Providers COVID-19 FAQs Critical Illness Insurance Dental Insurance Disability Insurance Employed Physicians Family Featured Financial Advice Group Benefits Group Coverage Health Insurance Homeowners Insurance HSA Independent Contractor Independent Physician Individual Coverage Insurance For Good Insurance for Women Insurance Review Key Person Insurance Life Events Life Insurance Locum Tenens Medevac Insurance Medical Insurance Medical Practice Medicare Medicare Part D Medicare Supplement Medigap Nearing Retirement Office Overhead Expense Insurance Open Enrollment Personal Umbrella Insurance Pet Insurance Practice Management Practice Managers Practice Owners Prescription Drug Coverage Renters Insurance Residents Retired Physicians Retirement Short Term Disability Short-Term Medical Insurance Supplemental Hospital Indemnity Insurance Term Life Insurance Travel Insurance Vision Insurance Women Physicians Young Physicans Young Physicians ![](https://www.tmait.org/hubfs/February%202021/February_2021_Week_4_Medicare_Health.png) [Health Insurance](https://www.tmait.org/blog/topic/health-insurance) # Protecting Your Pocket from Rising Health Care Costs 27 February 2021 If you are retired or thinking about retirement, you’ve probably heard that medical expenses are often the biggest drain on retirement savings. According to some estimates, the average couple will need $295,000 in today's dollars for [medical expenses in retirement](https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs), and this doesn’t include the costs of long-term care. If you are 65 or older you qualify for Medicare. However even with Medicare, you are still responsible for what are known as “out of pocket costs.” These are expenses that aren’t covered and hence come out of your pocket. Unlike many other forms of health insurance, Medicare does not have an annual out of pocket maximum. That means there is no limit to the expenses you could face. This is why TMA Insurance Trust is helping physicians secure Medicare supplement insurance. These plans provide financial security by helping to protect your pocket from out of pocket costs. ## Protection for Physicians with Medicare Although traditional Medicare pays 80% of costs for covered services, even after you meet your deductible, you are still responsible for the remaining 20%. These costs can quickly add up, especially if a serious illness should strike. The financial toll could seriously set back your retirement plans. These plans are also referred to as Medigap plans because they help fill the gap between what Medicare pays and the actual cost of services. [![We're here to help - CLICK HERE or call today](https://no-cache.hubspot.com/cta/default/400074/7829f8f8-700e-43fb-8af1-1dfc68feb7ae.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/7829f8f8-700e-43fb-8af1-1dfc68feb7ae)***[800-880-8181](tel:800-880-8181) 7:30 – 5:30 CST Monday – Friday*** ## What You Should Know About Supplementing Medicare Medigap plans offer valuable protection and several unique benefits. All of the following features are available on the Medigap plans offered by TMA Insurance Trust. *No restrictive networks*. Medigap plans do not have restrictive networks. You have the control and the freedom to choose the provider you trust for your care. Any physician or hospital that accepts Medicare will also accept your Medigap plan. *No prior authorization necessary*. Unlike most Medicare Advantage plans, the Medicare supplement plans we offer do not require prior authorization. Any procedure that Medicare guidelines consider medically necessary is eligible for coverage. *Guaranteed renewable*. Your Medicare supplement policy is guaranteed renewable regardless of any health problems you may have. This means you can rest assured that as long as you pay the monthly premium on time, the insurance company cannot drop your coverage, reduce your benefits or cancel your policy. ## Help Selecting the Right Plan for Your Needs Medigap plans can be very confusing. In Texas there are 10 different plans with ten different combinations of benefits. In addition to health plans, there are also a variety of Medicare Part D plans to help cover prescription drug costs. Picking the wrong plan can be a costly mistake but picking the right plan could help you save hundreds of dollars a year in out-of-pocket expenses. TMA Insurance Trust has insurance advisors that specialize in Medicare supplement insurance. Any Texas physician is entitled to a free consultation at no cost, with no obligation and no sales pressure. Whether you have recently signed up for Medicare for the first time, or if you are considering making a change to your Medicare supplement selections, our advisors will work with you to create a personalized solution based on your individual health care needs, preferences and budget. Contact us today. [![New Call-to-action](https://no-cache.hubspot.com/cta/default/400074/e225e22c-eea0-405c-b027-0babe38d77d5.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/e225e22c-eea0-405c-b027-0babe38d77d5) For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry. ** [ Health Insurance ](https://www.tmait.org/blog/topic/health-insurance) ** [Medicare](https://www.tmait.org/blog/topic/medicare) [**Previous Entries](https://www.tmait.org/blog/guaranteed-acceptance-ends-soon) [Next Entries**](https://www.tmait.org/blog/5-ways-to-save-on-homeowners-insurance-if-you-re-55) ## Recommended Posts ### [A New Alternative for Group Health Insurance](https://www.tmait.org/blog/a-new-alternative-for-group-health-insurance-group-benefits) ### [Why Going It Alone on Group Health Coverage Costs Your Practice](https://www.tmait.org/blog/why-going-it-alone-on-group-health-coverage-costs-your-practice-group-benefits) ### [Practice Owners Share Their Experience Navigating PPO Health Insurance Options](https://www.tmait.org/blog/practice-owners-share-their-experience-navigating-ppo-health-insurance-options-group-benefits) ### [Give Your Group Health Coverage Another Look](https://www.tmait.org/blog/give-your-group-health-coverage-another-look-group-benefits) ### [Group Health Insurance for Today's Independent Physician](https://www.tmait.org/blog/group-health-insurance-for-todays-independent-physician-group-benefits) ### [Final Opportunity to Check If a Group PPO Plan Is Possible for 2026](https://www.tmait.org/blog/final-opportunity-to-check-if-a-group-ppo-plan-is-possible-for-2026-open-enrollment) ### [PPO Access Alert: What Practice Owners Must Know Before 2026](https://www.tmait.org/blog/ppo-access-alert-what-practice-owners-must-know-before-2026-open-enrollment) ### [Don’t Renew Yet! 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