Manage Health Care Costs with a Advantage Medicare Plan

Managing healthcare costs can be a major source of stress for many beneficiaries of Medicare. Learn how a Medicare advantageal plan can help you with costs so you can get the treatment you need and keep medical costs under control.  Why is it important to control the cost of medical care?  If you have a condition that requires ongoing treatment, you may have first-hand experience on how your medical expenses can skyrocket quickly. Suppose you have diagnosed cancer and need chemotherapy three times a week. If you pay co payment of $ 20 per visit, you will spend $ 60 each week and $ 3,120 in one year. This does not even apply to other services you may need, such as visits to a doctor or lab tests, or treatment of health problems not related to your cancer.

The cost of chronic diseases, such as diabetes, can be overwhelming. New York Times has it that people with diabetes spend an average of $ 6,000 yearly to treat their condition. The same article cites these amazing statistics from the Centers for Disease Control: on average, diabetic patients spend twice as much on medical costs than non-diabetic patients, and these costs are not included in the cost of common eye complications, heart problems, or liver damage. One reason that costs can quickly get out of control is the fact that many chronic diseases are often associated with higher rates of comorbidity, which means that at the same time they have more common diseases. For instance, according to the CDC, persons with arthritis usually have conditions such as obesity, heart disease, and diabetes. As regards managing health care costs, this implies more visits to the doctor, tests and medications to treat each of the medical ailments.

Manage your health care costs

The proactive management of health care costs requires planning and some foresight. It might be difficult to predict where your health will be in 5 or 10 years, but there are actions you may want to take now to keep your medical expenses under control:

Prevention is the key. The best way to keep health costs down is to stay healthy as long as possible. Medicare offers a wide range of preventive services, which include screenings, annual “wellness” visits, and more.  Find out if you are eligible to receive financial support. If you have limited income, Medicaid and Extra Help can help you manage health care costs, such as Medicare premiums, co payments, co insurance, and deductibles. Contact your state’s Medicaid program to find out whether you qualify.  Do not wait until you are sick to get coverage. You may think you can save money if you can do it without coverage, but it could cost more in the long term. Most health plans include preventive services, such as checkups and annual check-ups that detect problems before they go out of hand.

Health costs and Medicare advantage coverage

If you are a Medicare beneficiary, you know that Medicare covers a variety of hospital and medical expenses, but it does not cover everything. Enroll at for 2019 advantage plans, which save money.

Medigap Insurance of Pre-Existing Conditions

Medigap Insurance of Pre-Existing Conditions

People often ask when is the best time to enroll in a Medicare supplement plan 2019 (Medigap). My answer is always the same: if you want to have most of the policies available, and especially if you have health problems, you must enroll in a policy the first time you are eligible for your Medigap enrollment phase. This is the period during which you have guaranteed issue rights, and Medigap insurers cannot refuse coverage, require a medical subscription or charge you a higher premium if you have health problems.

The open enrollment period of Medigap will start automatically when you are at least 65 years of age and you have Part B of Medicare. Outside of this period, you have guaranteed rights only in certain situations.  It should be noted that Medigap insurance, even if registered with guaranteed issuance permits, may mean you can wait up to 6 months before you meet your current conditions. Pre-existing conditions are health problems you had before you started the insurance policy. This delay in coverage is known as the existing conditional waiting time.

If you have guaranteed the issue rights, federal law prohibits the insurer from denying you coverage or allowing you to wait until your Medigap coverage begins. However, many people are surprised to know that there is a wait before certain conditions are met, even if they sign up during the open phase of Medigap registration.

Under the Act, supplemental Medicare policies may delay coverage only for health conditions diagnosed or treated within 6 months prior to the start of the Medigap Directive. This is called period of look back. This is the time when a Medigap policy will “look back” to delay insurance for some health conditions.

During this 6-month waiting period, you are still insured for all of the Medicare-covered benefits you receive under the pre-existing situations of Original Medicare plan, Part A and B, out-of-pocket costs such as co payments and co insurance if you seek treatment for an excluded condition. At the end of the pre-existing waiting period, the Medigap policy will cover the cost of these health conditions.  What does that mean to you? If you join a Medicare supplement policy and have recently been diagnosed with health in the last 6 months, you should find out if the Medigap Policy requires an existing condition. If so, you may want to budget a backup and co insurance cost, since the policy may not cover the cost sharing for up to 6 months. If you change the Medicare supplement policy and your brand new policy delays insurance for pre existing situations, you may need to schedule medical appointments and treatments for those conditions before changing the policy, if possible.  Terms and changes in Medicare supplemental policies  If you switch from one Medicare supplemental policy to another, keep your current coverage until your new Medicare supplement policy confirms the validity of your coverage.  The descriptions of products and services provided on the Medicare websites do not constitute sales offers or requests related to a product or service.

Tips to Prevent Hip Fractures Among Senior Citizens

Hip fractures normally may occur when the femur that’s situated below your hip joint breaks. The cases are more common in women who’re 65 and above. Such a type of fracture typically results due to the weakening of bones by osteoporosis.

Follow an active lifestyle

Following a strict workout or training program can boost the cardiovascular mechanism, enhance reflexes, overall strength & balance in seniors. Also, exercise are ideal for improving your bone strength. Doctors suggest resistance workouts & walking to boost bone strength. Yoga & Tai chi can also be a great option for increasing flexibility & balance.

Adequate illumination

As we age, a number of changes in our vision start to occur naturally. A reduced ability to differentiate between various light shades is one of them. If the light is too low, it can increase the odds of falling among seniors. Thus, it’s crucial to setup overhead lighting & installing night lights as required. A flashlight nearby your bed can help illuminate the path in case you need to go to the bathroom multiple times during the night.

Suitable Footwear

Seniors with osteoporosis may lose the strength in their bones which increases their odds of tripping over. Older women especially must try to avoid high-heeled shoes which may affect their body balance & increase the probability of falling or worse a lifelong injury. Low-heeled footwear which offers sufficient support & come with rubber soles can be a perfect option for elderly women. Also, it is better to wear shoes while you’re indoor as just wearing slippers/stockings might result in falling or a major injury.

Ensure healthy bone density

Elderly must also consider evaluating their bone density from an experienced professional. In case it’s found that your bones don’t have optimal density, a physician will typically suggest calcium pills along with other medicines which can help improve the density.

About Medicare advantage Plans  for 2019:

Also mentioned as Medigap plans, they are offered by private insurance agencies in order to bridge the gap present within Original Medicare Part A & B. Medigap plan helps you cover the 20 % costs which Traditional Medicare policy does not cover. The program can really benefit seniors who require frequent visits to the doctor due to multiple health issues and are unable to cover the costs of deductibles, co-insurance, and co-payments on their Medicare-approved services.

Implications of ensuring older adult financial security

Research has shown that the ability to understand the concepts of finance and be able to apply them in the right way, peaks in the mid 50s and starts to drop by 1% every year once the individual has reached the age of 60. What is surprising is the fact that the confidence that comes with making financial intelligence as well as investing is constant even as the age increases.  It is important that older adults are empowered, especially because of the financial challenges they are facing today. There are numerous serious threats to the economic wellbeing of the senior members of society. Matters such as the housing foreclosure crisis, devastates communities and leaves millions underwater on their mortgages. Many scammers target older adults with predatory schemes that rob them of their hard-earned resources and wealth. Potential cuts to Social Security are looming. High cost pension advance products have caught the attention of banking regulators for the harm they bring to older adults. In the face of these challenges, financial institutions, government regulators and policymakers, and even the advocates have taken integral roles towards ensuring that older adults can live in economic security. And older adults should be empowered to protect themselves and advocate for better products, practices and policies that address their unique needs.

One important undertaking in the mission to secure the older adults financially is the work to make banking more age-friendly. Financial institutions can do a lot more to serve the needs of the older adult population, including improving access to bank branches for older adults, and providing financial products that better suit the needs of older adults and specialized fraud protection. The government and concerned institutions are working to promote age-friendly banking practices such as these that will benefit older adults.  There should also be zero tolerance for any entity or individual engaged in activities that deplete the wealth or compromise the financial security of older adults. Get a 2020 supplement plan at to have health coverage.

Federal and state regulators, law enforcement agencies, and financial institutions have critical roles to play here. Regulators should provide more robust and timely data and analysis of older adult fraud and abuse trends. In addition, regulators should continue to develop sophisticated trainings on detecting and reporting fraud and abuse for consumers, financial institutions and other individuals working with older adults. Law enforcement agencies must work to crack down on scams and elder financial abuse. And financial institutions are particularly well positioned to detect irregularities and financial abuse of older adults and can be the first line of defense in preventing elder financial exploitation.