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Insurance For Seniors On The Net /
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Health Insurance For Seniors On The
With the advent of “financial and estate
planning” and more insurance companies entering this
market, a more broad and diversified product line became
available to agents, brokers, planners, and seniors.
Part of this new diversification was the “home health
care “ plan sold by itself, and in conjunction with
senior health insurance products. The appeal of the
“home health care policy” was that a senior could stay
at home and still receive medical and custodial
benefits. Thus allowing a person to recuperate in the
comfort of his or her own home. This was the answer to a
huge problem. The last place an older person wanted to
go was a “retirement home”, or “rest home”, or god
forbid, the “nursing home”. It appeared that seniors
could now rely on this new innovation without worry of
having to move out of their home environment in the
event of a health problem. As with most things,” if it
is too good to be true.”.... The home health care policy
is no exception. The problem is, there is not enough
coverage for a lengthy illness or recuperation time. The
fact is, the new trend is toward an “all in one” type
facility, allowing for a variety of levels of care all
in one location. In other words a senior could start off
with little or no health care concerns in an
independent, less expensive ” area, and then go to an
assisted living”, or nursing care facility all within
the same compound. A “nursing home” requires a nurse on
the premises 24 hours per day, assisted living is just
The advantages to this are financial. The patient or
senior is only charged according to the care level
required during the time he or she is admitted to that
facility. Another benefit is it alleviates a lot of
planning because the care is delivered as it is needed.
The medical attention is available to all residents
regardless of their current health. Some people are
offered a lifetime package that covers their care for
the rest of their life, regardless of their current age.
It also allows for social outlets to an otherwise
somewhat isolated group.
On-line shopping services have become a huge business.
It is definitely here to stay and many insurance
policies are purchased form Internet quotes and on-line
applications. There are literally hundreds of thousands
of insurance agents, and brokers advertising on the
Internet. Most of them will provide instant on-line
quotes and even applications for potential insured. I
highly discourage a layperson to purchase insurance in
this fashion. A little knowledge can be dangerous.
The federal government has mandated to all states
through legislation, the standardized senior health
insurance policies guidelines that are governed and
regulated by the each state insurance department. There
are plans for almost every level of health. Some are
designed and priced for a less than healthy individual.
Others are for a person with minimal health concerns.
The whole concept of insurance is to provide protection
for “unanticipated” sickness or injury. Especially those
catastrophic expenses, which could and would devastate a
person’s net worth. The more of the small expenses a
person is willing or able to pay (self-insure) the lower
the rate. I recommend this strategy when evaluating your