Elderly Healthcare

By: EconomyWatch Content   Date: 23 February 2010

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Medical Insurance is of especial importance for the elderly. With age, not only does income dwindle but health and related expenses add to financial burden as well. And quite ironically, the people who need medical assistance the most are the people who face the maximum number of rejections. Even if they are approved, they get rather unfriendly terms and conditions in elderly healthcare plans. However, there is some respite for the elderly through Medicare, which facilitates health insurance for people over the age of 65.

Eligibility for Elderly Healthcare

Besides age, there are many other factors that the government looks at while issuing Medicare coverage. To be eligible for Medicare, one needs to meet any of the following criteria:

  • 65 years old with legal citizenship and staying in the country for at least five successive years. They should also have been paying the Medicare tax for at least 10 years.

  • People under 65 years receiving either Railroad Retirement Board disability benefits or Social Security benefits for at least 24 months.

  • Those who need continuous dialysis or a kidney transplant.

  • Those eligible for social security disability insurance and have ALS (amyotrophic lateral sclerosis)

The 24-month exclusion, however, means that disabled people must wait for 24 months before they receive any government facilitated medical help.

For the record, Medicare provided coverage to 45 million Americans in 2008 and the number is expected to reach 78 million by 2030.

Benefits of Government Sponsored Elderly Healthcare

Typically, Medicare has two parts: Part A, which is the hospital insurance and Part B, which is the medical insurance.

  • Part A: This covers inpatient hospital stay, including food, tests and doctors’ fees.

  • Part B: This covers outpatient expenses, such as durable medical equipment like walkers, canes or wheelchairs.

  

Medicare also features a Part C, which gives the option of giving Medicare options through private health insurances for the elderly. These plans were called the Medicare Choice plans which, in 2003, were renamed the Medical Advantage plans.

However, people looking for elderly healthcare must know that Medicare is not free. One has to pay the premiums and deductibles to get coverage.


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