By Daniel Petkevich
Dec 6, 2022
As you get older, you might feel more urgency to plan for significant expenses. Medicare helps to cover many health-related costs. But unfortunately, it does not cover funeral expenses.
As such, funeral costs can be quite expensive. The cost of a traditional funeral with a viewing and burial or cremation can be upwards of $7,000 to $10,000. This expense can be especially burdensome if you don't have life insurance or any other means to pay for it.
Fortunately, there are a few ways to cover funeral expenses without relying on Medicare. You may be able to use savings or investments, take out a loan, or seek help from family and friends. Additionally, some employers offer life insurance policies that can help with funeral costs.
It is important to research your options early so you can adequately plan for potential costs and have peace of mind.
If you wish, you can also leave instructions on how to handle your funeral expenses. This can help your family members if you are no longer able to plan for yourself. Providing them with detailed information about your wishes may make the arrangement process a bit easier.
Medicare does offer coverage for certain end-of-life expenses. Medicare Part A covers hospice care, which helps individuals manage the symptoms of a terminal illness. This can help alleviate some costs associated with end-of-life care. Additionally, Medicare Part B covers certain medical items such as wheelchairs and walkers.
Overall, Medicare does not cover funeral expenses. It is important to plan ahead and ensure you have the necessary funds or insurance coverage in place if something happens. Knowing your options can help relieve some of the financial burdens and give your family peace of mind during a difficult time. Give us a call at Fair Square Medicare for all your Medicare-related questions.
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