Friday, June 17, 2011

Health Insurance for the Elderly

Someone said that the only thing that comes to us without any effort is old age. Indeed, we only get older as we continue our journey through life. Old age is simply inevitable. Not surprisingly, some people have a tremendous fear of aging. They panic when they see signs of aging: wrinkles, sagging skin, thinning hair, dry cracked skin, eye bags, and gray hair. Of course, there are people who saw joys in aging. But we cannot deny the fact that society has a great deal of prejudice against the elderly.

It is a good thing that most civilized countries have started to provide care for the elderly. Recognizing that old age entails an increased need of medical care, some countries have enacted laws providing health insurance coverage to senior citizens and those who meet certain criteria. Medicare in the United States is one of these programs. It was established by virtue of the Social Security Act of 1965 which was signed into law by President Lyndon B. Johnson on July 30, 1965.

The Medicare program provides health insurance coverage to people who are aged 65 and over among others. Original Medicare plans cover 80% or so of the approved amount of any given medical cost. However, the remaining 20% of cost must be paid by patients so their personal finances are still at risk of disappearing if they encounter serious illnesses. This is the reason why some people invest in Medicare supplement plans which will fill the gaps in coverage that basic Medicare plans are unable to cover. It will cover among others deductibles and various little expenses that will create a big headache if not properly attended. Of course, in return, you will have to pay premiums depending on the plans that you have chosen. But I looked online and found that these plans are surprisingly affordable. You can contact some of these companies to receive a free quote.

Consider it a wise investment for a worry-free future just like the VA Home Loan that you are planning to get. Anyway, peace of mind and good health are priceless.


jonwilson said...

"…peace of mind and good health are priceless" You said it, especially for people with elderly relatives to take care of. Older folks deserve broader insurance coverage.

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Dale said...

I personally fear aging. I feel like I don't have anything else when I come into that stage. Health insurance is important for elders. That'll be great for their health.

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