Supplemental Health Insurance for Seniors

Kyle Besser

Because of the state of affairs caused by government dependence to take care of our senior citizens and lack of new sources of funding for these programs, it is now often necessary to provide supplemental health insurance for seniors.

It's a fact of life that, as we age, our bodies begin to break down, and long term medication is necessary as well as more frequent visits to the doctor. While a portion of this is covered by Medicare, the leftover cost is still too high for individuals living on a fixed income from Social Security. Supplemental health insurance for seniors can help cover these costs.

How does supplemental health insurance for seniors work? Because it is supplemental, the primary coverage will pay first. Typically, this is Medicare. Then if another form of insurance is carried, this policy will be utilized to further reduce out-of-pocket expense. Depending on the policy, a secondary insurance will often pay anywhere from 50-80% of the balance remaining. While this may not seem like much when you figure in your premium, the thing to consider is that the medication often costs hundreds of dollars and may not be covered at all by Medicare, depending on the diagnosis, prescription, and how long the drug has been on the market.

Supplemental health insurance for seniors may also cover additional doctor visits above and beyond the allowance of whatever Medicare policy is held by the insured. In many instances, seniors must see specialists for particular problems, and while Medicare may not cover such a necessity, most supplemental health insurance for seniors policies will.

Always read the policy carefully prior to signing the acceptance of the policy, and guarantee in writing that the coverage is what it claims to be. In many cases, it may seem like an extreme expense, but the additional coverage provided by one of these policies is worth the premiums charged. Starting early at a lower price may save some pocket money later on as the monthly cost rises with age. However, a policy that costs a hundred dollars per month as opposed to prescription and doctor's costs that could run over a thousand dollars is definitely worth the expense.