This is because Medicaid and Medicare are federally-funded programs that offer standardized health care. These programs provide health care insurance for people in special situations, so applying for these isn’t exactly the same as applying for private insurance.

Medicare Insurance Quotes

What are your Medicare options? You can choose between Medicare Original (Parts A and B) and Medicare Advantage (Part C). If you opt for Medicare Original, you can buy supplemental private insurance, called Medigap, to fill in the coverage gaps.

Whether you choose Medicare Original or Medicare Advantage, you can also opt for Medicare Prescription Drug Coverage (Part D*), which covers some of the costs of prescription medications.

Alternatively, if you’re interested in Medicare Advantage, Medigap, or a Prescription Drug Plan, you can request a free senior health insurance quote right here. Submitting a request will help you find local insurance companies that offer the Medicare policies you’re interested in.

When purchasing Medigap insurance from private companies, it’s important to know that all Medigap policies are standardized in terms of the benefits and services they provide. However, these policies do differ in terms of fees and chargers that you incur. That means when comparing policies from different companies, it’s more important to compare the costs of those policies than the services they offer.

*You may be able to get extra help to pay for your prescription drug premiums and costs. To see if you qualify for getting extra help, call:

• 1-800-MEDICARE (1-800-633-4227). TTY/TDD users should call 1-877-486-2048, 24 hours a day/7 days a week;
• The Social Security Administration at 1-800-772-1213 between 7 a.m.7 p.m., Monday through Friday. TTY/TDD users should call, 1-800-325-0778; or and
• Your State Medicaid Office

photo credit: Daquella manera

The days of having to get up early for work are slowly coming to an end. Thinking about settling down in a few years and accepting the fact you are close to 65 years old. This may be a good time to begin thinking about retirement. After 40 years of working hard, you deserve a little rest and relaxation. Hopefully, you saved up some money and can afford a nice house by the beach where you can begin focusing on the things that you did not have time for and dreamed of doing once you retired.

With Senior Health Care, Timing is Everything

Ten years ago, the economy did not have an effect on people the way it does today. Unfortunately, people thinking about retirement are barely hanging on to their jobs due to a high unemployment rate and recession. The most difficult aspect for some is getting laid off before turning 65 years old and having to determine whether to go with COBRA or an alternative.

The Economic Stimulus Plan and COBRA

Many workers are losing their jobs these days and their health insurance goes with it. If you have health insurance through your company, it is usually cheaper to continue your coverage through COBRA while you look for work. You have the option of continuing your coverage for 18 months which can be costly considering you are paying the premiums that your employer used to pay for you as well as your own share from the group plan. This may cost well over $1,000 per month and considering the fact that you were planning on retiring in a few years and are looking for a job, this could destroy some of your retirement dreams.

The stimulus package proposes to address this issue by picking up 65% of the total cost of premiums accrued over the first nine month period. This gives you 9 months to find a job and still have the health coverage that you deserve while you are out looking for a new job. If you lost your job after September 1st and did not attain COBRA coverage, you will have 60 days to apply. The stimulus package was implemented in order to avoid some of the negative aspects of people that are close to retirement getting laid off and looking for work.

Alternatives to COBRA for Retiring Seniors

When you lose your job, the last thing you want to add to your stress is another expense for health insurance. Some people choose to avoid the cost completely and be extra cautious while out looking for a new career. This can be extremely risky considering you are out and about looking for a new job. It is always better to be safe than sorry, especially if you are driving more or taking public transportation.

As a senior you may also be susceptible to all sorts of new bacteria and disease in your day-to-day environment. On top of it all, you are close to retirement and any health conditions you may have can make it difficult to get approved by insurance companies that do not accept preexisting health conditions. If your senior health insurance plan does accept preexisting conditions, chances are the premiums will be much higher than COBRA.

Have a Job? Keep Truckin’

If you currently have a job during these tough economic times, appreciate it and enjoy the benefits that come with it. If you are close to retirement, don’t put your feet up on your desk just yet, and if you just lost your job, keep truckin’ and something will come your way.

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