Long-term care insurance

St. Louis Seniors Should Evaluate Multiple Insurance Options

St. Louis Seniors Should Evaluate Multiple Insurance Options

If you're a senior citizen in St. Louis feeling overwhelmed by deductibles, co-pays, PPOs, and HMOs as it relates to your health insurance, you're not alone. There is good news when it comes to finding a health insurance plan, however, even if you're already on Medicare. The way to break down this complex process is to begin by asking a few key questions that will determine the direction of your search from that point, such as:

        - Do I need more than what Medicare offers? (For those 65 and over)

        - Do I work for or belong to an organization that could offer me healthcare coverage?

        - Do I have an pre-existing conditions that warrant special research?

        - How much can I really afford to spend on healthcare?

HMOs vs. PPOs

Once you've answered the questions above and determined that you do need supplemental or primary coverage through your own healthcare plan, you may be confronted with the PPO vs HMO conundrum. A Health Maintenance Organization means seniors on these plans are required to get all their medical care from providers official inside the HMO's network, unless there's a medical emergency.

 A Preferred Provider Organization, however, allows plan members to select doctors and hospitals outside of the provider's network. This does typically come at the price of bigger co-payments and higher deductibles.

Narrowing Down a Plan Choice

Before you come to a conclusion with your decision about your healthcare, make sure you take into account each's plans premiums on a monthly basis as well as the percentage of hospital bills and doctor bills covered by the insurance. This can help you figure out what plan is in your budget without you having to worry about high costs down the road, either.

What About Medigap?

Many seniors who do receive benefits from Medicare also opt for coverage through an additional plan. This helps to cover extra expenses. There are 12 standard Medigap plans shared by the National Association of Insurance Commissioners, making it easier for senior citizens to explore their options and determine the right coverage. Bear in mind that a Medigap plan typically doesn't cover dental or vision bills, eyeglasses, private nursing, hearing aids, or long-term care. The policy will usually only cover one person, so you and your spouse should each get a plan if you need coverage.

For more information about planning ahead for senior healthcare, contact Senior Health Solutions LLC. Choosing the right life insurance policy is an important and often complex decision. The knowledgeable life insurance professionals at Senior Health Solutions, LLC are standing by to answer your questions regarding life insurance and other senior-focused programs. Contact us by phone at (636) 244-4415 or online. If you cannot come to us, we can come to you.

Important Information
How to enroll into Medicare
We can help you find a Medicare plan in your area to fit your needs. Once you decide on a plan we can walk you through the Medicare enrollment process.
How much is the cost?
These are the basic costs for people with Medicare. If you want specific cost information (like whether you've met your deductible, how much you'll pay for an item or service you got, or the status of a claim)
Do my doctors accept these plans?
Use this helpful link on the Medicare and Medicaid Services (CMS) website to find and choose Physicians and Other Healthcare Professionals enrolled in the Medicare program, as required by the Affordable Care Act (ACA) of 2010.
What to do if you don't want a part D
If you want to drop your Medicare Prescription Drug Plan (Part D) and you don't want to join a new plan, you can do so during the Open Enrollment Period, between October 15–December 7 each year. The change goes into effect January 1 of the following year.
Keeping your work benefits
Employer or union health coverage refers to health coverage from your, your spouse's, or other family member's current or former employer or union.
Medicare - Advantage Plans
A Medicare Advantage Plan is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits.
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