It’s Not Too Late: Where to Find Senior Health Insurance You Won’t Age out of

Healthcare and health insurance are always hot topics.

We talk about the cost of healthcare and the rate of coverage for different populations. For example, in 2017, 91.2% of people in the U.S. had coverage for all or part of the year.

That number seems promising, but ease and affordability of coverage vary. The elderly are especially affected, even while the government pays for 65% of their medical expenses. The burden of healthcare costs and coverage is much higher for the elderly population.

If you retired early and are looking for health insurance, you know this burden well. It can be hard to find coverage when you’re over 55, but we can help.

Read on for information about where to find senior health insurance to cover you for years.

Medicare: The Most Popular Senior Health Insurance Option

Medicare is only for people 65 and older, but you may still qualify if you have disabilities or severe health conditions. The program has four different parts. We’ll cover the basics of each here.

Medicare Part A – also known as hospital insurance – covers hospitalization and home healthcare. Medicare Part B includes medical insurance, and Medical Part D covers prescriptions.

Medicare Part C is more unique in that is allows you to get coverage through private companies, which may get you better coverage.

The different Medicare parts have different requirements for coverage. The cost of each also varies depending on the state and provider. Some simple research can help you identify the option you qualify for and that is best for your needs.

Medicaid: Medical Insurance for Low-Income Seniors

Medicaid is a federal program that provides insurance for disadvantaged seniors. Many people use Medicaid and Medicare together. Medicaid offers coverage for medical services and prescriptions that Medicare may not cover.

If you’re interested in Medicaid, you’ll need to go through an application process. You’ll also need to meet certain income limitations.

For those who do qualify, Medicaid can ensure quality health insurance.

Medigap – Supplemental Health Insurance for Medicare

Medigap can help cover things that Medicare doesn’t, like care from certain medical specialists. It can cover co-insurance costs for hospital stays or nursing facilities. Medigap can even cover the deductibles in your Medicare plans. 

Enrollment in Medicare Parts A and B is required to qualify. Medigap is available through private insurers and special organizations. The cost for Medigap depends on the coverage. 

Private Health Insurance: Quality Coverage for Those Who Can Spend More

If you want the best health insurance, private insurance is another option. Though it will cost you more, private insurance can provide extra coverage to make up for Medicare’s limitations.

An independent insurance agent can help you find the best private insurance for seniors.

Quality Health Insurance is Just the Start

Finding the right senior health insurance is one way to ensure your optimal health and wellbeing.

There are many other things you can do for yourself, too, and we have a wealth of articles with tips and guidance to help.

Browse our blog to find tips on good health habits for seniors, how to prevent health risks at home and more.