As a child of aging parents, one thing that you have to take care of is medical insurance and you are wondering whether there is any point in getting them enrolled in Medicare – what if you just bought them regular health insurance? Medicare is a federal health program that covers medical costs for people who are aged 65 and older and in some cases younger people who suffer from certain chronic conditions. It is really up to you to decide whether you want your parents to be treated under Medicare, but before you do you should consider its benefits.
Is Medicare for Seniors?
Yes, Medicare is for seniors!
Medicare is offered by your plan as a treatment program for those who are older than 65. Over the years your parents may have saved quite a chunk in their retirement savings plans, but that is money that they set aside to support their lifestyle, not to pay for medical bills. One of the reasons why Medicare exists is because medical bills for seniors can be huge – just being admitted to the hospital for a few days can result in a bill in the tens of thousands. If your parents start to use up their retirement fund this way it will not last for long and sooner or later you may have to support them out of your own pocket.
Medicare Supplements Fill in the Gaps
It is important to keep in mind that while Medicare will take care of a large proportion of the costs it doesn’t take care of all of them. There are some that you still have to pay out of pocket and these can be significant especially if you consider that your parents are not bringing in any income. One way to cover these costs is to buy Medicare supplement insurance. This is a kind of insurance plan that covers some of the costs that aren’t covered by Medicare.
Medicare On Video Is Here to Help
We are a company that sells this kind of coverage but you should be smart as you shop for a policy. Medicare On Video invites you to look at exactly what is covered and what is not. Evaluate the long term needs of your parents, and then we’ll figure out what best meets those needs together.
Medicare Choices Made Easy