The breakthrough advances in medical science are promoting access to quality healthcare aids for us. Understandably, it is boosting the longevity of senior citizens. Health care services over the years have become expensive that makes it mandatory shopping for the right health insurance for the seniors. However, the job is easier said than done, as determining a policy that comes with the right coverage can be intimidating.
Before we delve deeper into finding the available options to find the best senior health insurance, here are some interesting statistics that everyone should know.
- Based on statistical data, there were 40 million people over 65 in the USA in the year 2010.
- Within the year 2030, the number is expected to swell by nearly double.
- Not many of this significant percentage of senior citizens perform workouts to keep in shape.
- The case of concern is, around 38% of these senior citizens are obese, making them vulnerable to health problems.
Understandably, all the factors above indicate, getting health insurance for senior citizens indispensable. So, let us take a look at the options they have.
Health insurance options for senior citizens
As mentioned already, the cost of healthcare is on the rise. Thus, it might not be feasible depending on a single plan for providing the coverage these people need. Senior citizens or those above the age of 65 are highly susceptible to diseases and injuries. Without the assistance of proper coverage, chances are they may need to break the bank for facilitating specific treatments. Right now, in the USA, you have the following options for senior medical insurance, Medicare, Medicaid, Private Health Insurance, and Medicare supplemental insurance. Here are the details of each of them.
Medicare is a familiar name as it happens to be the most popular insurance plan for people over 65. For convenience, the plan has four different parts.
Medicare Part A covers everything related to hospitalization and home healthcare. You can avail of the service for free if you have worked for more than ten years and never missed paying your social security tax.
Medicare Part B covers medical insurance. In this plan, you can expect it to cover various medical services that include yearly checkups and visit the doctor. Simultaneously, for seniors who require care for mental health, the plan also takes care of it. You have to pay a premium that can be over a hundred dollars.
Medicare Part C, also known as Medicare Advantage facilitates the senior people to get medical coverage via private companies. Part C offers better coverage, but to avail it you must also have Medicare Part A and Part B. The premium costs can vary depending on the state you live.
Medicare Part D usually covers prescription drugs. As a senior citizen, there is no need to enroll in this. However, if you regularly need to take medicines, it is feasible to go with this plan. You have to pay a monthly premium to avail of this service.
Often, people over 65 encounter problems owing to their decreased income. Medicaid is a federal program and such seniors can avail it. Usually, Medicaid is used together with Medicare. The plan will take care of all the costs related to medical services that Medicare does not cover. You have to fill up an application and got to prove your income limitations.
Private Health Insurance
Consider this health insurance contrary to Medicaid. For seniors who do not have financial limitations, they can opt for private health insurance. For the unaware, you can also pair it with Medicare. It will ensure, proper coverage against all health-related aspects, as Medicare has certain limitations.
Medicare Supplemental Insurance
The above is also known as Medigap. It ideally offers coverage for everything that Medicare does not. Remember, you have to enroll in Medicare Part A and Medicare Part B You can expect this insurance plan to cover all the excess costs. For instance, it will cover the costs of staying at a medical center and even the deductibles in your Part A and Part B Medicare policies. Contact private insurers for more information on this health insurance plan.
As you can see, there are many options when it comes to selecting the right health insurance for seniors. For the best results, you might also consider combining some of them. Thus, you should get in touch with an independent insurance agent to help you make an informed decision.
Banco6 months ago
Filmora2 months ago
Wondershare Filmora 9 Activation Key and Email Free 2020
Banco6 months ago
Seguro6 months ago
Vivaz Seguro de Salud vista rápida
Ley Mexico6 months ago
Ley de Lenz
Business5 months ago
Career Talk 101: What Does a Criminal Lawyer Do?
Law School6 months ago
25 Weird Laws from Around the World
Attorney4 months ago
United States court orders release of migrant children due to the risk of coronavirus contagion