Health Insurance For Senior Citizens

All of our lives we really work for one thing — retirement. Besides raising our children, working and planning for retirement is what all of those past years have been for.   

Now that you’re there — or almost there — it’s time to enjoy it.

But don't forget to plan for your healthcare. Because paying for healthcare is one of the biggest expenses of anyone's retirement. Fortunately, there are affordable insurance options to make paying for care easier on your retirement savings.

What Should I Look Into?

For your different healthcare needs, here’s what you should look into:

Medicare Supplements
Medicare has some gaps in coverage that you have to pay out of your own pocket. But a Medicare Supplement plan will cover some of the expenses that Medicare doesn't help you with.

For example, a Medicare Supplement plan could cover your coinsurance costs for doctor’s visits or hospital stays, your deductible, or even at-home care.

Long Term Care Insurance
If you're over 65, there's a 50% chance you'll need long term care at some point. And some long term care services can cost as much as $60,000 per year. But if you have long term care insurance, you won’t have to worry about paying it all yourself.

Long term care can cover:

• Skilled care. This includes daily care from physical therapists or doctors. Skilled care is specifically meant to treat a specific health problem.
• Intermediate care. Skilled care that is only given a few days a week or less is considered “intermediate.”
• Custodial care. This includes assistance with daily tasks such as dressing, bathing, and getting in and out of bed.

Prescription Drug Coverage
What about your prescription drugs? There are plans to help cover them as well.

Medicare has a program specifically designed to help you pay for prescription drugs. The prescription drug program — unofficially known as Medicare Part D — is government-sponsored, but it’s offered through private insurance carriers.

But not all Medicare prescription drug plans are the same. So before you buy one, make sure that the drugs you need are covered.

Our Advice

When you're ready to look at your options, our free quote service can show you your health plan choices in just minutes. And if you have any questions, don't hesitate to ask us — because we’re here to help.