Do I need extra protection like Critical Illness Insurance if I am on Medicare?

Question

Timothy Brown · Accepted Answer

Critical illness, heart attack, stroke and cancer plans are optional indemnity plans that can be purchased separately. The plans pay you directly upon a certain diagnosis and are designed to cover non medical and out of pocket costs such as travel, lodging, missed time from work, experimental, treatments, etc. In short, you receive a cash payout that can be used at your discretion regardless of the type of medical coverage because there is no coordination of benefits with insurance companies.

Answered by Timothy Brown on April 28, 2025

Broker Licensed in PA, CT, DE & 15 other states

Answered by Timothy Brown Medicare Insurance Agent

Lt Col Tim Brown · Answer

Med supplements, depending on the plan letter you chose covers most or all the 20% Medicare does not. Medicare advantage has co-pays (I’m on one myself). It’s always nice to have extra money coming in from those plans.  The choice is up to you. 

Tim Brown
615-506-9024 
www.medicareinsurance4all.com

Norman Smith · Answer

Critical Illness policies are like a Supplemental policy. You don’t have to have them, but they sure payoff nice if you find yourself with any of the ailments it covers. And when you consider 1 of 2 men, and 1 of 3 women will find themselves with some form of cancer, your odds of cashing in on it and having help you and your family are pretty good. Heart ailments and Renal failure are covered as well, and those odds again are pretty solid to be stricken from. 
Now IF YOU HAVE TAKEN A MEDICARE ADVANTAGE PLAN, this “Supplement” is almost a necessity! So don’t think to turn this type policy away so quickly!

Misty Bolt · Answer

This answer is provided in a video format. Watch the agent's video response here: https://medicareagentshub.com/questions/do-i-need-extra-protection-like-critical-illness-insurance-if-i-am-on-medicare#misty-bolt

Steven Graves · Answer

Whether you need additional protection like Critical Illness Insurance while on Medicare depends on your personal financial situation, health history, and risk tolerance.

Medicare provides broad coverage for many medical services, including hospital stays, doctor visits, and some preventive care. However, it doesn't cover all costs. For example, Medicare typically doesn’t pay for non-medical expenses that may arise during a serious illness—such as lost income, transportation, home modifications, or help with daily living.

Critical Illness Insurance is designed to provide a lump-sum payment if you're diagnosed with a covered condition like cancer, heart attack, or stroke. This cash benefit can help offset out-of-pocket medical costs or other financial burdens that Medicare doesn't cover.

If you’re concerned about how a major illness might impact your finances or lifestyle beyond what Medicare handles, Critical Illness Insurance can provide added peace of mind. That said, it's important to carefully review the policy terms, your overall insurance coverage, and your financial goals before making a decision.

Consulting with a licensed insurance advisor can help you evaluate whether this type of supplemental coverage aligns with your specific needs.

Regards,

Medicare4USA.com  
214-989-7900

Kelsey Hentzen · Answer

Extra protection is always good to have. I would look at your max out of pocket for your health insurance plan and get coverage for the amount of the health insurance plans max out of pocket.

Anthony Castelluccio · Answer

It really depends on which way you go Medicare Advantage or Medicare Supplemental. On the Medicare Advantage plans, one of the main reasons that people hit their MOOP (max out of pocket), is because they are dealing with a Critical Illness. If you have a Medicare Supplemental, depending on the plan, you may see very little out of pocket costs for critical illnesses, except for your prescriptions. But now with the Inflation Reduction Act in full effect, if your prescription is approved by Medicare and on formulary, then the most you will pay in a year for your prescriptions will be $2000. So going back to the original question, I would recommend a Critical Illness policy to go with your Medicare Advantage plan if you go the Advantage route. If I was going into Medicare right now, I would go with a Medicare Supplemental plan. This way I will limit my exposure to any large medical bills, and that's a good feeling when people are on a fixed income!

Answered by Anthony Castelluccio on April 26, 2025

Agent Licensed in PA, DE, MD, NJ & VA

Answered by Anthony Castelluccio Medicare Insurance Agent

Steven Bleicher · Answer

In my opinion, critical illness should only be considered if you are from a family history of maladies with parents and/or siblings. Medicare has put a dollar value on over 60,000 procedures for which they pay for. It would be somewhat rare for you to require that coverage as a separate rider.

Answered by Steven Bleicher on April 27, 2025

Broker Licensed in AZ

Answered by Steven Bleicher Medicare Insurance Agent

James Stang · Answer

In most cases I would say no. However, there are times when those types of policies can help. It's a personal choice as to if the premium for those types of plans gives you enough benefit to make them worth it.

Answered by James Stang on July 9, 2025

Agent Licensed in OH

Answered by James Stang Medicare Insurance Agent

Brenda Trejos · Answer

Not necessarily. Coverage like Critical Illness is supplementary coverage, its not required. It would add value if you thought you could benefit from the policy in case you had a critical illness and then you would benefit from this policy. Its hard to know, but I would suggest it if you can afford it and think there is a possibility that you might use it.

Answered by Brenda Trejos on June 5, 2025

Broker Licensed in CO, AR, AZ & 28 other states

Answered by Brenda Trejos Medicare Insurance Agent

Fred Manas · Answer

Please note:

Critical insurance is not designed to replace your Medicare coverage, rather provide extra cash when you may need it most. 
It can, however, be a very important part of your overall financial plan!

Steve Brauer · Answer

This answer is provided in a video format. Watch the agent's video response here: https://medicareagentshub.com/questions/do-i-need-extra-protection-like-critical-illness-insurance-if-i-am-on-medicare#steve-brauer

Mary Salmon · Answer

It is highly recommended for people on Medicare to get a critical illness policy as well. With a Medicare Advantage plan, there are always out of pocket expenses and some Advantage plans have very high maximum out of pocket limits of more than $8000. That creates a financial hardship on seniors. Even with Medicare Supplements there might be excess charges above Medicare-approved charges that will have to be paid out of pocket (depending on the plan). Speaking with a licensed agent can help you determine if getting a critical illness plan is the right step.

Answered by Mary Salmon on May 29, 2025

Broker Licensed in TX & OK

Answered by Mary Salmon Medicare Insurance Agent

Tony Hardwick · Answer

Medicare provides comprehensive coverage for critical illness, but critical illness insurance can offer additional financial support by providing a lump sum payment to cover unexpected expenses beyond basic medical care.

Answered by Tony Hardwick on April 28, 2025

Agent Licensed in GA, AZ, CA & 15 other states

Answered by Tony Hardwick Medicare Insurance Agent

Donnie Vermillion · Answer

This depends on your financial situation. Medicare may cover some of the treatments for critical illness. But it will not cover the cost of travel, lodging, food or your caregiver or spouse missing work.

Answered by Donnie Vermillion on May 20, 2025

Broker Licensed in TX

Answered by Donnie Vermillion Medicare Insurance Agent

Natalee Nimmo · Answer

I personally would say it is not absolutely necessary but always a good idea. It could certainly help pay for needs that are outside of Medicare.

Tonya Mowan · Answer

The need for Critical illness coverage is sometimes needed for individuals that may have history of medical conditions that increase the possibility for something to occur. 
Critical illness coverage provides a lump-sum payment if you're diagnosed with a serious condition like cancer, heart attack, or stroke.  It helps cover extra expenses that Medicare might not, such as travel, home care, or lost income.

Each person has different needs and it is always best to speak with an agent to discuss your needs.

Angelique Solomon · Answer

Medicare covers many healthcare costs, but it doesn't cover everything, especially for serious illnesses. Critical illness insurance provides extra financial protection by giving you a lump-sum payout if diagnosed with specific illnesses like cancer, heart attacks, or strokes. It can help cover expenses Medicare doesn't fully handle, giving you peace of mind.

Answered by Angelique Solomon on April 28, 2025

Broker Licensed in AL, FL, GA & 5 other states

Answered by Angelique Solomon Medicare Insurance Agent

Do I need extra protection like Critical Illness Insurance if I am on Medicare?

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Do I need extra protection like Critical Illness Insurance if I am on Medicare?

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