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Thread: Health Insurance Options for Senior Citizens

  1. #1

    Default Health Insurance Options for Senior Citizens

    Health insurance used to be considered a replacement of income for your spouse and children if you were to die during your working years. People of retirement age and older do not usually have young children to provide for because their children are usually grown up and have their own jobs and families. Therefore the benefits of insurance are directed to the needs of the elderly as they live out the rest of their lives. The life insurance sum will generally pay for the funeral arrangements and provide a lump sum to whoever is left behind. Some also help to pay the fees should one go into a nursing home facility as well. Because of the baby boomers living to a more advanced age the need for this type of health insurance is starting to increase.

    Whilst the need for health insurance may decrease with age for some, there are many who would benefit from health insurance for the elderly. People are living longer these days and often, elderly individuals are called on to raise their grandchildren, long after they have finished raising their own offspring. If you are responsible for raising your grandchildren as a senior citizen, who will provide for them when you're gone?

    Social security and pension benefits, if they are eligible to receive them, can fill in the gaps for your spouse and dependents after your death, but will that be enough? Look closely at your individual situation to determine whether or not you need to purchase senior health insurance and, if so, your chances to obtain it at a reasonable rate should you need to. What works for one may not work for you, so you must assess your personal situation before proceeding. Today Health Insurance has changed and many policies that were once thought of as age related are now being revised. Of course changing a policy you have had for many years will always be the best bet, since it was bought at ultimate age, health, and cost. But for those people who never thought they would need it, there are still some great policies available at a reasonable cost with great benefits.

  2. #2
    New User Level 0
    Join Date
    Nov 2009


    Thank you for such a useful post .I really appreciate your effort and encourage others to view this post

  3. #3

    Default Social Security

    Social Security benefits can only be considered as a partial income supplement. Cost of living increases are a thing of the past. Most beneficiaries, for retirement or disability, receive around $1,000 a month.

  4. #4
    New User Level 0 trainerguru1's Avatar
    Join Date
    Dec 2009


    I know that people are looking for good health insurance. Please make sure that the insurance you are looking for line up with your budget which I found out in my research Individual Health Insurance. It was a pain for me to look for this information because there are so many options like HSA.
    Last edited by trainerguru1; 01-27-2010 at 12:57 PM. Reason: editting

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