If seniors banded together to make a difference in their health care costs, silver power would be a new word for the future of health care in America.
It’s a fact that most seniors have limited resources and need to watch their spending carefully. Nowhere is that more apparent than when it comes to health care needs. The way it works in the U.S. right now is that when a person turns 65, they become eligible for Medicare.
Medicare Part A is the hospital insurance portion and seniors get this free if the individual or spouse has 40 or more quarters of Medicare-covered employment. The rest of the medical insurance part, which is Medicare Part B, is for individuals who enroll at 65, and it’s fairly minimal; for example Medicare Part B was an average cost of $96.40 for 2009.
What these figures mean is that the cost for Medicare premiums is less than people were paying before they turned 65, and that is good news. The bad news is that Medicare does not cover all health care costs, which isn’t exactly new, but a lot of people forget this point.
Most seniors definitely need supplemental coverage to fill in the gaps for extra money they pay out for things not covered by Medicare. While that may sound depressing, there are 12 different Medicare supplement plans and so many Medicare insurers and HMOs to choose from, that not only is there a lot of variety and different prices, it’s sometimes tough to figure out which way to go. Just because something is good for one person, does not make it good for another.
Seniors can definitely control the costs of their health insurance coverage by keeping up-to-date on the latest information that relates to their plans and by making it a point to speak to an expert health insurance agent. They will do best by talking to an agent that sells what they need, not just someone who has many things they are able to sell.
It’s time consuming for seniors to find plans that suit their budgets, but this is definitely a doable proposition with the right health insurance agent that works with seniors one-on-one and finds them what suits their needs. If more seniors got together and became a powerful voice for Medicare insurance they could count on and afford, silver power would be a new word in health care circles when it came to Medicare.