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Many Plano health insurance recipients are uncertain about care costs after retirement.
As Americans are living longer, it’s becoming increasingly more difficult for them to estimate how much money they will need to set aside for medical treatment as they age. According to a recent study done by the Employee Benefit Research Institute and Greenwald & Associates, six out of 10 retirees have not attempted to calculate potential medical expenses. In addition many recipients are under the impression that the Affordable Care Act, more commonly known as Obamacare, will continue to cover a significant amount of their healthcare requirements.
It’s important for those currently receiving health insurance in Plano, TX to understand their needs and plan accordingly before retirement.
To begin, although Medicare will cover most routine doctor visits and hospitalizations, certain prescription drugs are excluded. Eye, dental, and hearing care aren’t covered as well so provisions need to be made.
Practicing good health today can help lower healthcare costs in the future. Healthy eating and exercise are universally praised by health advocates and usually pay off as one ages. However, unexpected issues can arise such as cancer ailments or sudden accidents. Some health insurance professionals recommend purchasing a Health Savings Account (HSA). These savings accounts are tax-deferred and allows withdrawals specifically for medical reasons. These can help supplement existing Medicare coverage. Other long-term health insurance plans may also be a good option for those facing an uncertain medical future.
Delaying Social Security payments is a viable option for many people. Typically, one begins withdrawing funds at the age of 65. However, it may make sense to wait for those in good health to wait. Rick Thornton, a Plano health insurance agent, agrees. “If someone can afford to put off receiving Social Security, it can be beneficial because it allows that money to be used later in their life once they become more ill. Or the money can to be passed on to a spouse in the event their health is not optimal,” he states.
There are more strategies to prepare for retirement with respect to healthcare needs such as home healthcare or supplemental care plans. The bottom line is Plano residents should begin the process before an unforeseen medical crisis occurs.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.
Release ID: 410060