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FACTORS TO TAKE INTO ACCOUNT BEFORE SETTLING FOR MEDICARE INSURANCE

Seniors may get confused over what plan of insurance to take to give him a comfortable life. This could be as a result of so many insurance providers that may end up confusing you and failing to settle for the best.

Medicare Supplement plans 2019

 

 

The below factors can guide a person on how to make a decision when purchasing the cover.

  1. The insurance cover amount- Confirm that the amount of insurance in addition to any health conditions and the age status to see if the premiums paid for the amount covered are realistic for the period that you have insured yourself.
  2. Consider the waiting period- Different insurance companies offer different waiting periods depending on the type of a disease that you are suffering from. Consider the one that best fits you.
  3. Medicare Supplement plans 2019 information can be found at https://www.medicaresupplementplans2019.com
  • The procedure used for claiming any expenses- It’s important to understand the claim procedure. Good insurance has simple claim procedures that every person can follow and, they do not take a lot of time to settle claims. Research for the reputable insurance companies that will help in case of such needs.
  1. After sales support- Most companies will offer good customer service but there are those that are outstanding, and they are there for you 24 hrs a day such that when you need an inquiry, there are the customer support representatives ready to offer any information at all times.
  2. Research on the list of hospitals that are covered in the insurance companies so that you are aware of the availability of the medical services at any time of the day. Also, confirm how they operate like on the cashless options whereby any amount is paid directly by the insurance company which is a convenient way when you are insured.
  3. Depending on the type of insurance, confirm that the family is also covered, this will ensure that fewer costs are spent by the seniors incase they have members who are dependent on him.
  • Hospitalization-either pre or post- some of the hospitals may have exorbitant rates for hospital bookings in case of events that require hospitalisation. The Insurance Company should be lenient enough to authorise such requests at the time of need. Therefore upon the senior’s enrollment to Medicare insurance, they should ensure that such cases are taken into account.

Finally one should be considerate enough to use the insurance cover wisely, and enough research on the type of insurance covers need to be taken into account.

 

Challenges Seniors Face

As we get older, we look forward to our senior retirement years as the time we will get to rest and relax. There can be many challenges that will come up that we may not anticipate. Following will be some of these issues that seniors face as they get older during their daily lives.

One of the biggest challenges a senior will face is their health issues. We think we will be healthy, but life has a way of putting health obstacles in our way. Health care costs keep rising yearly, but a senior’s monthly budget may not increase as much as these costs. It is most vital for one to get yearly checkups to determine that they are healthy, but more importantly, that no health problems may be starting to develop. These tests a doctor may order, may greatly decrease our finances and can be a big drain on our savings.

Another problem can be our independence and financial security. With the cost of living increasing daily, many seniors have monthly financial limits and they cannot afford to have any more expenses. With Medigap Plans deductibles and coinsurance can be covered up to 100%.They no longer have a work place to go to, to acquire weekly funds, that would help with these expenses. Seniors may not have the savings or financial security that other seniors have, as they had to pay their bills paycheck to paycheck. Their limited budget, now that they are older, may cause a great deal of stress in just paying for their everyday expenses, let alone, paying for excess health costs.

As we advance in age, we can face many health issues we never thought about when we were younger. Many of these problems can run from arthritis, dementia, cataracts and so many others. Having to pay for these tests and health problems can eat up your finances considerably.

Loneliness is definitely a problem for seniors as they age. Many of their friends and relatives may have passed on and they may live alone. If they do not have mobility to get up and go out, they may develop depression, anxiety, sadness and a decrease in their everyday lives. If one is able to get around well, there are senior services that may help them to get out of their houses and join others at the senior center, where there will be many activities for them and friendships they can develop.

While we are younger, it is wise to look forward to retirement and plan accordingly for our future years.