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Health Insurance For Seniors On The Net

By William Pritchett

(Page 1 of 4)

When a good friend of mine inquired where he could obtain information about medical insurance for his out- of- state, elderly mother, I told him to try the Internet. 

He reported back to me about a week later, he reported back in desperation “I am giving up, I am too confused”. He had taken on an overwhelming project with his widowed mother, living in another state. As the only child, and following the sudden death of his father, it was his responsibility to care for his mother.

In this world of technology, the family unit is often living in different geographical areas and usually quite involved with their own lives, careers, and families. In addition, when both parents are alive, often one or both parents are quite independent and not requiring a lot of assistance. As time goes on things of course change and sometimes very suddenly, there is a crisis, with regard to the health care needs of one or both aging parents.

With our baby boomers facing this problem in ever increasing numbers, and with the information highway in full bloom, there is a definite need for planning. To protect a parent's assets and health is a huge and daunting undertaking that requires a tremendous amount of education and practical application.

Our seniors face many diverse responsibilities upon reaching age 65. To name just a few, Estate planning, taxation, Medicare, social security, wills, insurance, and various and sundry other legal and financial matters. All of these different areas require expertise from accountants, lawyers, estate planners, insurance agents, home brokers, financial advisors, and others.

The Internet is a good starting point for most people to find resources for your questions and solutions for your problems, however, there is still no replacement for good solid intelligent advice from an expert. 

Twenty years ago, insurance for elders was sold by “senior insurance specialist’s” with just a handful of companies in each state. The programs were most often medi-gap or Medicare supplement policies that covered the expenses not covered by Medicare, (hospital and doctor deductibles, durable medical devices, and non approved Medicare costs). Ironically these specialist’s did not sell a lot nursing care policies, even though Medicare paid a national average of less than 2% of these expenses.

 

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