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Senior Healthcare and Long Term Care Insurance Options

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					Senior healthcare insurance plans have many benefits. It allows you to be more proactive about your health. It also
protects your finances. Without healthcare insurance plan, you may become bankrupt because surely, all your lifetime
savings will be exhausted on expensive medications, physical checkups and surgeries. For instance, if you have a hospital
bill of over $1,000, your healthcare plan can help by cutting the cost and paying part of the expenses.

Government Funded Insurance for Seniors

   1. Medicare
   Medicare is a national social insurance program. It guarantees access to health insurance for the elderly Americans.
   Individuals who have disabilities and those diagnosed with end stage renal disease can also benefit from the Medicare
   program. Other seniors who wish to be covered by the Medicare program can still acquire this coverage. However,
   they need to pay for it. Senior healthcare insurance options with Medicare also include prescription coverage.
   Meanwhile, the Medicare Advantage Plan offers hospital and medical insurance, and doctor’s prescriptions.

   When it comes to long term care, Medicare only covers medically necessary care and focuses on medical acute care
   like hospital stays, doctor’s visits, and medications. Physical therapies to help improve your bodily function are also
   included in Medicare’s long term care benefits.

   2. Medicaid
   Medicaid is a federal program. Each state has their individual set of criteria for eligibility. Seniors above the age of 65
   can qualify for Medicaid benefits. To qualify, your earnings should be low and you should have no access to any
   retirement health insurance plans. Medicaid pays for medical care, doctors’ services and long term care services in
   nursing homes and LTC services provided at home. Unlike Medicare, Medicaid covers custodial care in nursing homes
   and at home.

Healthcare Insurance Options

Because government funded insurance programs don’t always pay for certain expensive medical treatments, it is a good
idea to find an alternative like a healthcare insurance plan. With this type of coverage, seniors have better access to an
array of medical treatments at reduced prices.

Long Term Care Insurance Plans

Long term care insurance or LTCi is offered by various insurance companies. It helps provide for the cost of long term care
beyond a predetermined period. Depending on the contract, LTCi covers home care, assisted living facilities, adult
daycare, hospice care and nursing home.

Hybrid Long Term Care Health Insurance Policy

These policies have benefits of an annuity or life insurance agreement and a long term care contract rider. With this type
of plan, you can receive both long term care benefits and insurance benefits if no care is required.

Once you reach the age of 65 and older, infolongtermcare.org - senior healthcare and long term care becomes an
important part of your life. By this time, you should have a definite plan on how you intend to pay for hospital fees,
doctor’s visits and long term care services. If you have not secured any insurance plans yet, you can seek the help of a
financial adviser or a LTC expert who can help you plan your future health.

				
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Description: Senior healthcare insurance plans have many benefits. It allows you to be more proactive about your health. It also protects your finances. Without healthcare insurance plan, you may become bankrupt because surely, all your lifetime savings will be exhausted on expensive medications, physical checkups and surgeries. For instance, if you have a hospital bill of over $1,000, your healthcare plan can help by cutting the cost and paying part of the expenses.