Senior Health Care Insurance

By DonShook

Health Insurance For Seniors On the Internet

Every time a fantastic friend of mine inquired where he could obtain information regarding medical insurance for his or her tattered, elderly mother, I told him to try the web.

He reported back about a week afterward, in desperation: “I’m giving up, I’m too confused.” He had taken on an overwhelming project with his widowed mother, living in a different nation. Since the only child, and after the sudden death of his father, it was his obligation to take care of his mother.

Within this realm of engineering, the family unit is often living in different geographic areas, and the family members are usually very involved with their own lives, careers, and families. Additionally, if both parents are alive, often one or both parents are entirely independent and don’t demand a great deal of assistance. As time goes on things, of course, change, and sometimes change very suddenly. There may be a crisis, concerning the healthcare needs of one or both aging parents.

With our baby boomers facing this problem in ever-increasing amounts, and with all the information highway in full bloom, there’s a clear need for planning.

Protecting your parent’s assets and health is a huge and daunting undertaking, which requires an enormous amount of instruction and practical application. Our seniors life insurance face many diverse responsibilities upon reaching age 65. To name only a few: Estate planning, taxation, Medicare, social security, wills, insurance, and several other legal and fiscal issues. Each one of these different areas require expertise from accountants, attorneys, estate agents, insurance agents, home brokers, financial advisors, and many others.

The world wide web is a high starting point for most people to locate resources for questions and answers to your problems. There is also, however, no substitute for good solid, intelligent advice from a professional.

Twenty decades ago, insurance for elders was sold by”senior insurance specialists,” with only a small number of businesses in each state. The programs were most frequently Medi-gap or Medicare supplemental policies, which covered the costs not covered by Medicare, including hospital and doctor deductibles, durable medical devices, and non-approved Medicare prices. Ironically these specialists didn’t sell a good deal of medical care policies, even though Medicare paid a national average of less than 2 percent of those costs. With the arrival of”financial and estate planning” and more insurance companies entering the current market, a more broad and diversified product line became available to agents, brokers, planners, and seniors.

Part of this new diversification was the”home health care plan,” sold by itself, and in conjunction with senior health care solutions. The appeal of the”home health care policy” was that a senior could stay at home and still receive medical and custodial benefits, allowing an individual to recuperate in the comfort of their own house.

This was the reply to a massive issue. The last place an older man wanted to go was a”retirement home,” or”rest home,” or, God forbid, the”nursing home.” It appeared that seniors could now rely on this innovation without worry of having to go from the home environment in the event of a health issue.

Just like most items,” if it’s too good to be true”… The home health care policy is no exception. The issue is, there’s not enough coverage for a lengthy illness or recuperation time. The truth is, the new trend is toward an”all in one” type facility, allowing for many different levels of care all in 1 location. In other words, a senior could start with little if any health care concerns in an independent, more affordable area, and then visit an assisted living, or nursing care facility, all within precisely the same compound.

A”nursing home” requires a nurse on the premises 24 hours every day; assisted living is just eight hours per day. The benefits of this are financial. The patient or senior is only charged according to the care level required during the period he or she’s admitted to this facility. Another benefit is it alleviates a great deal of planning because the care is delivered, as it’s required. The medical care is available to all residents irrespective of their present health.

Some people are offered a lifetime package, which covers their care for the remainder of their lifetime, no matter their present age. Additionally, it allows for social outlets to an otherwise somewhat isolated group. On-line shopping solutions have become a large enterprise. It’s here to remain, and many insurance policies are purchased from Internet quotes and online applications.

There are absolutely thousands and thousands of insurance agents and brokers advertising online. The majority of them will offer immediate online quotes and even applications for the possible insured. I highly discourage a layperson from buying insurance in this fashion. Just a little knowledge may be harmful.