Final answer:
Employer senior supplement group retiree plans help with costs not covered by Original Medicare by acting as secondary insurance.
Step-by-step explanation:
Yes, an employer senior supplement group retiree plan helps pay for some or all the costs not covered by Original Medicare. When retirees have these plans, they function as secondary insurance to their Medicare coverage. The supplement plan may cover additional costs like copayments, coinsurance, and deductibles that are not fully covered by Medicare.
Original Medicare provides a guaranteed insurance benefit that helps with major hospitalization, fee-based supplemental coverage for doctor visits and other health expenses, and prescription drug benefits. However, it does not cover every expense, such as some dental care, eyeglasses, and certain prescriptions. Therefore, an employer senior supplement plan acts as an extension that can reduce the overall healthcare costs that retirees might incur.
Medicare faces challenges due to demographic shifts and rising healthcare costs, but supplements from employer plans can provide support in areas where Medicare coverage might be lacking. These supplements are especially helpful in the face of the financial burden that rising medical costs could have on the elderly.