Senior Health Insurance

As people age they are more likely to experience health problems. While many health issues can be addressed within the parameters of individual and group health insurance and by a patient's family, there often comes a point when more assistance is needed on a permanent basis. Hence, there is a need for senior health insurance.

Senior Health Insurance Programs to Consider

A major health insurance program for seniors is Medicare, which starts at age 65 and is also a plan for the disabled. By way of the Medicare Prescription Drug Improvement and Modernization Act of 2003, Medicare began offering a discount prescription drug card for seniors. In addition to the prescription drug benefit, this act also created a competitive bidding system for paying Medicare Advantage plans. According to a survey by the Harvard School of Public Health and the Kaiser Family Foundation, half of those surveyed who were over 65 viewed the Act unfavorably and 70 percent wanted lawmakers in Washington to improve the plan.

Many states have a Senior Health Insurance Information Program (SHIIP) that provides information about Medicare benefits. Started in 1966, Medicare is meant as a health insurance plan for retirees. A January 2005 report of the total number of Medicare beneficiaries was over 5.5 million.

As people age they are more likely to develop a chronic disease such as Alzheimer's, Parkinson's, cancer, or osteoporosis. In many cases, the elderly begin to need more care than their families or spouses can provide. For this reason, seniors and their families also consider long-term care health insurance (LTCI) as an option.

It is advisable for seniors to plan for such coverage prior to such time when they become ill and need care the most. Financing long-term plans is easier and more affordable if organized ahead of time. Some groups such as America 's Health Insurance Plans advocate for government regulation that increases tax benefits for the purchase of long-term care insurance. Reforms such as these can make senior health insurance coverage more affordable.

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