Navigation: Insurance > Senior HealthCare on the Net


Senior HealthCare on the Net


When a good friend of mine inquired where he could obtain information about medical insurance for 
his out-of-state, elderly mother, I told him to try the Internet.
He reported back to me about a week later, in desperation: "I am giving up, I am too confused." 
He had taken on an overwhelming project with his widowed mother, living in another state. 
As the only child, and following the sudden death of his father, it was his responsibility to care for his mother.

In this world of technology, the family unit is often living in different geographical areas and the family 
members are usually quite involved with their own lives, careers, and families. In addition, when both 
parents are alive, often one or both parents are quite independent and do not require a lot of assistance. 
As time goes on things, of course, change, and sometimes change very suddenly. There can be a crisis, 
with regard to the health care needs of one or both aging parents.

With our baby boomers facing this problem in ever increasing numbers, and with the information 
highway in full bloom, there is a definite need for planning. Protecting your parent's assets and 
health is a huge and daunting undertaking, which requires a tremendous amount of education 
and practical application. Our seniors face many diverse responsibilities upon reaching age 65. 
To name just a few: Estate planning, taxation, Medicare, social security, wills, insurance, and 
various other legal and financial matters. All of these different areas require expertise from 
accountants, lawyers, estate planners, insurance agents, home brokers, financial advisors, and others.

The Internet is a good starting point for most people to find resources for questions and solutions 
for your problems. There is, however, no replacement for good solid intelligent advice from an expert. 
Twenty years ago, insurance for elders was sold by "senior insurance specialists," with just a handful 
of companies in each state. The programs were most often Medigap or Medicare supplemental policies, 
which covered the expenses not covered by Medicare, including hospital and doctor deductibles, durable 
medical devices, and non-approved Medicare costs. Ironically these specialists did not sell a lot of nursing 
care policies, even though Medicare paid a national average of less than 2% of these expenses. 

With the advent of "financial and estate planning" and more insurance companies entering this market, 
a more broad and diversified product line became available to agents, brokers, planners, and seniors. 
Part of this new diversification was the "home health care plan," sold by itself, and in conjunction with 
senior health insurance products. The appeal of the "home health care policy" was that a senior could 
stay at home and still receive medical and custodial benefits, allowing a person to recuperate in the 
comfort of their own home. This was the answer to a huge problem. The last place an older person 
wanted to go was a "retirement home," or "rest home," or, God forbid, the "nursing home." It appeared 
that seniors could now rely on this new innovation without worry of having to move out of their home 
environment in the event of a health problem. As with most things," if it is too good to be true.
" ... The home health care policy is no exception. The problem is, there is not enough coverage for a 
lengthy illness or recuperation time. The fact is, the new trend is toward an "all in one" type facility, 
allowing for a variety of levels of care all in one location. In other words a senior could start off with 
little or no health care concerns in an independent, less expensive area, and then go to an assisted 
living, or nursing care facility, all within the same compound. A "nursing home" requires a nurse on 
the premises 24 hours per day, assisted living is just eight hours. The advantages to this are financial. 
The patient or senior is only charged according to the care level required during the time he or she is 
admitted to that facility. Another benefit is it alleviates a lot of planning because the care is delivered, 
as it is needed. The medical attention is available to all residents regardless of their current health. 

Some people are offered a lifetime package , which covers their care for the rest of their life, regardless of 
their current age. It also allows for social outlets to an otherwise somewhat isolated group. On-line shopping 
services have become a huge business. It is definitely here to stay and many insurance policies are purchased 
from Internet quotes and on-line applications. There are literally hundreds of thousands of insurance agents 
and brokers advertising on the Internet. Most of them will provide instant on-line quotes and even applications 
for the potential insured. I highly discourage a layperson to purchase insurance in this fashion. 

A little knowledge can be dangerous. The federal government has mandated to all states through legislation, 
the standardized senior health insurance policy guidelines, which are governed and regulated by each state 
insurance department. There are plans for almost every level of health. Some are designed and priced for a 
less than healthy individual. Others are for a person with minimal health concerns. The whole concept of 
insurance is to provide protection for "unanticipated" sickness or injury, especially catastrophic expenses, 
which would devastate a person's net worth. The more small expenses a person is willing or able to pay 
(self-insure), the lower the rate. I recommend this strategy when evaluating your insurance options. 

Another consideration when reviewing various insurance plans is to look at the company itself. How long 
has the company been selling this type of insurance? Do they have a lot of complaints filed with the local 
department of insurance? Are the rates stable? Does it pay claims on time? Service? Most agents talk 
about the rating. These ratings are as follows: A+, A, A— B+, B, B— C+, C, C— or "not rated." Do not be 
fooled by rating alone. It is good to have a high rating, but it is far better to have a company that has longevity, 
stability, innovation, service, and expertise. The problem is that some companies enter into a market and 
quickly leave without explanation. This does not give security to the policyholder. The most important 
consideration should be a review of the profit/loss ratio for that product. This will establish stability, 
and longevity in the market. An insurance company with a moderate profit in a particular line of business 
will remain in that market. On the other hand, a company with losses will make changes and possibly 
even withdraw. This is information not normally available to Internet users. Before entering into an 
insurance contract , the senior person, the family, and other advisors must be realistic, and a careful 
evaluation of the entire picture must be examined. The age, the health of the senior, the financial resources, 
the personality and attitude of the senior, and most importantly the desires of the senior, should all be considered. 

Early planning is important, as qualification becomes increasingly more difficult as the applicant's health declines. 
The senior health care market is complex. I will offer some words of advice to attempt to alleviate potential pitfalls. 
*C hoose a well-informed, seasoned, and service oriented agent or broker to assist your decision making process. 
The professional can offer invaluable information, but do not be afraid to ask a lot of questions and even get a 
second opinion. *Do not wait until your parent or loved one is sick, or injured. Plan ahead and take the time needed 
to cover all the options. *C hoose an experienced insurance company. A Company that has been in the marketplace 
for a significant time and has maintained a balance of rates and benefits and sound risk selection with moderate 
rate increases over time is your best bet. *T he plan should be flexible, with a broad range of options and benefit 
selections to the insured. There should be no tricks, or complicated language for the coverage. An incredibly low 
rate is a red flag for trouble in the future. *Do not rush or be rushed by an over aggressive sales person. 
This policy will not be inexpensive and will need to be read and reviewed for a clear understanding of the contents. 
This is one advantage to the Internet. You are allowed to read indefinitely before you act.

A long-term care program, with or without insurance coverage, will only work if the senior has input into the 
care selection process. If there are any questions about the accreditation of a facility please call the 
"Continuing Care Accreditation Commission at 202-783-7286.








About the author:
http://www.empirehealthstore.com






Insurance Articles:


 


Understanding Different Types of Auto Insurance

Auto Insurance policies can be divided into different categories according to the coverage they provide. Broadly speaking there are four kinds of policies known as Collision Insurance.


What the insurance companies aren't telling you about your premium

Although insurance companies offer peace of mind to the policy holders, it is important for all customers to remember that they are for profit companies, and accordingly your own personal interest is not their number one priority


Insurance for Newbies

Insurance is the coverage offered by an insurance company to an individual or an organization against a specified loss in return for the earlier premiums received from the policy holder


The differences between regular auto insurance and insurance bought online

The unlimited advantages that the Internet has brought to our lives have even transformed the way we go about availing something as routine as auto insurance. With the option of applying for auto insurance online, car owners are spared a tremendous amount of time,


The 411 on different types of auto insurance

The basic reason why anyone requires auto insurance is for protection for both you and your car. Depending on your location you have a number of options to choose from for the type of auto insurance you require.


Life Insurance: Term or Universal

Before deciding between term and universal coverage, consumers need to determine whether or not life insurance is actually needed. If so, term provides coverage for a set period of time at a lower cost. Universal offers long term coverage with a built in savings plan.


Do I need Health Insurance

If you think you do not need Health Insurance; then think again. The unpredictable nature of life is itself a valid reason to own a health insurance. Life is filled with risks


Life Insurance: Is it Right for You

Though Life Insurance is neither an investment plan nor a savings scheme, it still plays a significant role in the financial portfolio of most individuals


The benefits and drawbacks of buying your auto insurance online

With the Internet providing great shopping experience to most online buyers, people are now willing to buy more than just books and gifts on the net.


Auto Insurance – Which Type Is Right For You

Auto insurance is a form of insurance available to consumers who own cars, trucks and other vehicles. It covers the insured party against the risks involved in owning or driving a vehicle


Life Insurance and Life Assurance are not the same!

Life Insurance and Life Assurance are different. Most people assume they are one and the same product and their online searches reflect this. What are the differences and what are they used for? This article provides an explanation for the layman.


Life Insurance and the Law. A layman's introduction

This article is an introduction to the regulatory and legal aspects of buying Life Insurance which the layman should find interesting and useful. Special reference is made to buying life insurance on the Internet. 


Car Insurance. How can you lower your premiums

A wide range of aspects affect the cost of your car insurance - some you can influence and some you can't. This article introduces the reader to 9 aspects within their control and recommeds the Internet as a way of getting an overall discount. 


Senior HealthCare on the Net

In 1984, William Pritchett, Jr. developed the first Home Health Care plan of its kind, which revolutionized the insurance industry in this market.
The program was developed to allow seniors to recuperate in the comfort of their own ho.me as an alternative to assisted living facilities. This idea has grown into an entire industry. William Pritchett quickly became the leader in this cutting edge senior care product 


Using The “Autograph” To Get Cheap Motor Insurance

What if your motor insurance provider told you that you could get up to 25 percent discounted from your next car insurance policy simply by showing them that you were a safe driver? Introducing the new 'Autograph' device that will help distinguish the good and bad drivers..


Insurance Rate Methods

The price of insurance depends ultimately on the risk the insurer is taking on on behalf of the customer. Simply put, this will depend on the chance of the insured event occurring, and the likely cost of the outcome. The way insurers calculate this risk, and quantify the amount of the premium, is through the use of what is known as actuarial science.


Life Insurance – Medical history increases the cost for 66% of applicants

Life companies keep their initial quoted prices low by being choosey on who they accept on standard terms. Having made a formal application, two thirds of applicants will face a loaded premium. This article explains why and what the shopper can do about it – choose an online broker!


Offset Mortgages. A dream for well off homeowners

Offset mortgages are set to become hugely popular, especially amongst higher tax payers. How do they work, what’s the benefit and is there a catch? This article investigates.


Critical illness Insurance. Do you really need it, or is it a waste of time

There is a 1 in 5 chance that a man will suffer a long-term critical illness before his normal retirement age. So why isn’t critical illness insurance more popular? This article investigates the reasons and reinforces the importance of this form of insurance.


Life Insurance - Helpful Tips For Getting A Cost Effective Policy

Many things factor in with getting a cost effective life insurance quote and policy. It is wise to take some time out and do some important research first. With online access, it is much easier today than it used to be. There are many affordable life insurance offers on the Internet that would greatly benefit the beneficiaries we love. Taking the time out to educate yourself can be well worth your while.


Buying Life Insurance online – is it a really good idea

You’ll find the cheapest prices for life insurance on the Internet. But are there hidden complications and does low price come at the expense of quality? The Author explains how it is done and concludes that buying online certainly is a good idea.


Buying Life Insurance, One tip to save you thousands

A top life insurance tip to save some people 40% tax and ensure their policy pays out with the minimum of fuss. Only applies to the UK. 


Life Insurance - Money Saving Top Tips

Buying life insurance online is easy but this article provides 5 money saving tips that the man in the street would otherwise be unaware of. Essential reading. 


Term Life Insurance: The differences between Term and Whole Life policies

Life Insurance quite generally is a policy whereby you pay a company a premium so that if you die while covered your descendents receive financial benefits. 


Wake Up And Smell The Smoke

You’ve worked too hard creating equity to lose it through the careless acts of a tenet. Saturday’s fire was caused by an octogenarian on oxygen who had to have a cigarette before getting out of bed


Landlord Insurance for beginners

Landlord insurance, also commonly known, as buy to let insurance is something a landlord should begin to consider even as early as considering the purchase of a property. Failure to put in place insurance on a property could leave you with nothing to show for your money should something go wrong. In some cases it can be extremely difficult or highly expensive to put insurance in place for a property and for this reason it is important to have a structural and local survey for the property and look for appropriate insurance policies before purchasing the property. Failure to do so could result in inflated insurance premiums, which ultimately could severely impact your profitability as a landlord. 


Take Motorcycle Saddles into Consideration

Imagine the long hours of journey while mounted on your trusted bike. Just anybody can feel discomfort and annoyance while sitting on a hard and painful saddle. It does not only give less protection it can also make your butt sore!


Factors that Change the Price of Your Car Insurance Quote

When looking for a good car insurance quote that combines the coverage you need with a good, affordable cost there are many factors that will culminate in the price of your car insurance quote.


Are you suffering from payment protection overload?

There are so many types of payment protection insurance around that it can be difficult to know where to start. This article provides a brief summary of the different types of payment protection insurance and how they can help you.


Critical illness insurance – critical or ridicule?

Two thirds of the population suffer a critical illness at some point in their life, so is it worth taking out financial protection for this?


Which Car Should You Own To Keep Your Insurance

Do you consider the cost of insurance before you buy your dream car? You should. The Highway Loss Data Institute analyzes the cost to insurance companies from theft, collision, and injury claims as they relate to cars. They look at the color of the cars, how many doors they have, and even break them down type.


Factors That Affect Your Car Insurance Premium

Many factors affect the premium you will pay for auto insurance.Each is a statistically based risk for a specific population. The higher the risk associated with a person, the more he or she is likely to pay for coverage. We have elaborated on some of the risk factors below, but there are numerous others, including driver's gender, miles driven per year, purpose for using the vehicle (commuting to work, using for work, leisure only), etc.


Seven Steps to Filing Your Car Insurance Claim

Having even a teeny-tiny car accident can be one of life's least enjoyable moments. However, accidents happen, and sooner or later, we all have the experience of meeting one of our fellow road travelers up close and personal. Using the following seven steps to filing your claim will help you get over this speed bump as smoothly as possible.