An affordable senior health insurance plan. Does such a thing exist or is it just a dream for the millions of seniors seeking medical care?
The irony is, just as seniors need more health care than ever before, they're no longer covered by their employer's policy and their insurance costs are rising astronomically.
So what options are available?
Medicare is PART of the Solution
Medicare covers some medical expenses for people who are 65 or older. Medicare programs include:
* Medicare Part A, called hospital insurance. This program covers most of the costs associated with a hospital stay, as well as some follow-up costs after being in the hospital. It may also pay for outpatient medical services such as equipment and supplies, home health care, and physical therapy. You usually don't have to pay a premium for Part A - you just have to apply for the coverage.
* Part B is optional medical insurance and does include both a monthly premium and an annual deductible. This program pays for some out-of-hospital treatments, doctor's visits, medical equipment, and tests.
* In addition, Medicare Part C offers more health plans and benefits and Medicare Part D covers prescription drugs.
The irony is, just as seniors need more health care than ever before, they're no longer covered by their employer's policy and their insurance costs are rising astronomically.
So what options are available?
Medicare is PART of the Solution
Medicare covers some medical expenses for people who are 65 or older. Medicare programs include:
* Medicare Part A, called hospital insurance. This program covers most of the costs associated with a hospital stay, as well as some follow-up costs after being in the hospital. It may also pay for outpatient medical services such as equipment and supplies, home health care, and physical therapy. You usually don't have to pay a premium for Part A - you just have to apply for the coverage.
* Part B is optional medical insurance and does include both a monthly premium and an annual deductible. This program pays for some out-of-hospital treatments, doctor's visits, medical equipment, and tests.
* In addition, Medicare Part C offers more health plans and benefits and Medicare Part D covers prescription drugs.
Finding MediGap Coverage
While Medicare provides basic coverage, many senior citizens find they need MediGap coverage to cover what Medicare does not. Medigap policies are private health insurance plans that Medicare beneficiaries can buy to provide coverage for medical expenses that aren't covered by Medicare.
For example, the Medigap policy might pay the coinsurance on your doctor visits and hospital stays, or cover the deductible you pay for Medicare Part B. You must be enrolled in Medicare Part A and Part B to get a Medigap policy.
A good place to start looking for a MediGap health care policy is at an insurance comparison website where you can compare health insurance quotes from different companies.
Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get senior health insurance plan quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written numerous articles on senior health insurance plans.
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