Medicare covers a wide range of health expenses, but it does not cover everything. That can come as a surprise to retirees who think Medicare is a catch-all policy.
Several everyday expenses fall outside Original Medicare coverage, making it important to understand what you will need to pay for out of pocket. While a Medicare Advantage plan can provide extra benefits, reviewing your policy to see what recurring expenses are and are not included remains essential.
Here are five common expenses that Medicare typically does not cover.
1. Dental care
Many routine dental services like cleanings, fillings, extractions and dentures are not covered under Original Medicare. While coverage may be granted for dental services directly tied to a covered medical procedure or hospitalization, broad dental coverage is not included.
These costs add up over time, making it wise to account for them in your retirement planning.
2. Vision care and eyeglasses
Routine eye exams, glasses, and contacts are typically not included in Original Medicare. There are limited exceptions, such as an eye exam if you have diabetes or glaucoma screenings if you are at high risk.
Part B does cover one pair of eyeglasses with standard frames or a set of contact lenses after cataract surgery that implants an intraocular lens. After meeting the Part B deductible, you pay 20% of the Medicare-approved amount for these corrective lenses.
3. Hearing aids and hearing exams
Although hearing loss becomes more common with age, it is typically not covered by Medicare. You will need to pay for hearing aids and exams for fitting them yourself. Some Medicare Advantage plans offer limited hearing benefits, so check your plan details if this coverage matters to you.
4. Long-term care
Long-term care is the most expensive item on this list. A 65-year-old today would need to set aside $135,000 to cover average expected future lifetime costs of long-term care, according to a study by consulting firm Milliman.
Original Medicare does not cover long-term care, and Medigap policies generally do not either. While your plan may cover short-term skilled nursing or rehabilitation in specific situations, you will likely need to draw from savings if long-term care becomes necessary. Some people consider long-term care insurance to help address these costs.
5. Health care outside the U.S.
If you travel outside the United States, you may want a separate travel health insurance policy. Medicare typically will not cover expenses related to health conditions that occur abroad. There are rare exceptions: Medicare Part B may pay for inpatient hospital, doctor, and ambulance services in a foreign country if you are eligible under specific circumstances. Medigap policies may include limited foreign travel emergency coverage.
Before international travel, consider your options and what you would do if a medical emergency arises abroad. Travel health insurance can provide peace of mind and financial protection.