For senior citizens seeking health insurance solutions, Medicare is the most popular choice – both for comprehensive health care needs and for a basic policy upon which supplemental insurance is used to expand coverage. Other individual plans are often either impossible to obtain late in life or come with premiums that are too expensive for most seniors to afford. Some seniors may be eligible for extended COBRA or employer’s group insurance plans when they turn 65, but many switch to Medicare at that point so as to avoid penalties for not enrolling when they first become eligible.
Medicare is the most popular affordable senior health care insurance solution because the basic coverage, known as Medicare Part A, is free to eligible and enrolled participants. Part A covers inpatient hospital and nursing facility care, home health care and hospice treatment. Part B is optional and does require premiums, deductibles and co-pay amounts, but this important part covers nearly all other medical expenses that are not covered under Part A. Some seniors use a separate health insurance plan to help pay for the expenses associated with Part B coverage.
While prescription drug coverage under Medicare is not completely comprehensive, it may be for certain enrollees who are in nursing facilities or undergoing hospice care. For others, there are Medicare supplemental policies that are available as add-ons to standard Medicare coverage. Seniors may also purchase supplemental prescription coverage from another insurance company, or seek help from the drug assistance programs administered by many of the larger pharmaceutical companies.
Seniors with questions about affordable senior health care insurance through Medicare are best served by contacting their state Medicare office or the Social Security Administration.
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