The elderly, are the most neglected and vulnerable group in our society. Not only their dwindling health, but the absence of support from kids who have grown with their own families to look after, coupled with failing mental agility makes the elderly, unable to live with the dignity, they deserve.
Most insurance companies avoid, including those in the 65+ age group into their schemes, as they see the elderly as liability. Any health plan available for the elderly, involves high premiums. Their diminishing health will cost the company more at their death, and simple economics makes them refuse to hand out health schemes, to the old. Many employment schemes reduce the benefits, for their employees, when they cross the age of 65.
In such instances the elderly, best opt for Medicare, which was initially built to handle health insurance for those above 60, and has since been, extended to include severe disabilities and serious medical problems, even below the age of 60.
Medicare serves most people, with no regard to income or background history.
In fact most individuals, above the age of 65 are automatically entitled to protection, under Medicare part (A) or the Hospital Insurance Program, if they are eligible for Social Security payments. Some supplemental Medicare benefits can also cover, your Medicare Part (A) deductible, extended hospital stay, co-payments, nursing and emergency care, with the transport charges involved. Medicare also takes care, of your prescription drugs.
Medicare however, has turned in to somewhat of a liability for the government, since it was supposed to be self sufficient by funding itself on the taxes obtained from the income of the elderly. But rising costs have put a dampener, on the income of the elderly, and has resulted in Medicare being a Federal entitlement, with multiple exceptions and limitations, which in turn makes many senior citizens, opt out of choosing Medicare.
To fill in this gap, in health insurance for senior citizens, many private insurance companies have taken the initiative, to provide special schemes, with decent interest rates and courteous agents, who go an additional step to give all the information necessary. Also maintaining a healthy lifestyle, along with a clean record (no smoking or drinking); can help you get a good health plan.
Sometimes, it is best for the elderly to compromise on health coverage, by buying into long term care and funeral expenses. This arrangement can provide better for any dependents that you may have such as, an adult handicapped child, or grand children.
Health insurance wasn't considered a necessity in old age, but times have changed. With shifting family values, and changes in society, the elderly may have to take their health in to a lot more consideration, or at lest buy into a scheme which can fund charges of a nursing home or take care of their dependents or funeral expenses when they are gone. However, though the situation may look unfriendly, it is the opportunity to remain independent, even in old age that should drive you to buy health insurance, for your sake or your spouse's.