Medicare and Health Insurance For Seniors Over 60
Your parents may have contributed to a health savings account in the past. These contributions can be a tax-free mechanism and without penalties to cover some out-of-pocket expenses. Once they are enrolled in Medicare, their parents are not eligible to contribute to an HSA, but they can still benefit from using the funds for approved medical costs.
Medicare and Health Insurance For Seniors Over 60
Checklist of other things you can do to help:
Ask your parents for a list of their doctors.
Ask them about their health conditions and their approximate annual medical expenses. The answer to this will guide you to the correct level of coverage you need.
Find out about the different Medicare coverage options.
If your father works or plans to work after age 65, have an idea of how long they would like to continue working (and remind them that the clock marks when they retire). Knowing this will help prevent some important health insurance age 62 to 65 coverage deadlines from being lost.
Depending on whether you are opting for the Medicare Supplement or Medicare Advantage coverage, help them apply for quotes directly from individual insurance companies or licensed accredited brokers.
Review the coverage options presented. You may also want to compare the options presented from a source with a separate one.
Once covered, remind them to take advantage of the preventive and screening services covered by Medicare.
It will take time and research to select the best plan for your parents. Understanding coverage, eligibility, expenses and networks will help you reduce your options and avoid unexpected costs to your family in the future.
The views expressed herein are those of the author and do not necessarily represent or reflect the views of Healthcare, Inc. and HealthCare.com.
Editor's Note : This article has been updated with additional information.
Do you have a personal health care history to share? Write a brief summary of what you would like to share and send us an email to [email protected]. From there, we will make sure to follow up and set up an interview.
* Medicare and Health Insurance For Seniors Over 60 to 65 Compare Quotes.
Your parents may have contributed to a health savings account in the past. These contributions can be a tax-free mechanism and without penalties to cover some out-of-pocket expenses. Once they are enrolled in Medicare, their parents are not eligible to contribute to an HSA, but they can still benefit from using the funds for approved medical costs.
Medicare and Health Insurance For Seniors Over 60
Checklist of other things you can do to help:
Ask your parents for a list of their doctors.
Ask them about their health conditions and their approximate annual medical expenses. The answer to this will guide you to the correct level of coverage you need.
Find out about the different Medicare coverage options.
If your father works or plans to work after age 65, have an idea of how long they would like to continue working (and remind them that the clock marks when they retire). Knowing this will help prevent some important health insurance age 62 to 65 coverage deadlines from being lost.
Depending on whether you are opting for the Medicare Supplement or Medicare Advantage coverage, help them apply for quotes directly from individual insurance companies or licensed accredited brokers.
Review the coverage options presented. You may also want to compare the options presented from a source with a separate one.
Once covered, remind them to take advantage of the preventive and screening services covered by Medicare.
It will take time and research to select the best plan for your parents. Understanding coverage, eligibility, expenses and networks will help you reduce your options and avoid unexpected costs to your family in the future.
The views expressed herein are those of the author and do not necessarily represent or reflect the views of Healthcare, Inc. and HealthCare.com.
Editor's Note : This article has been updated with additional information.
Do you have a personal health care history to share? Write a brief summary of what you would like to share and send us an email to [email protected]. From there, we will make sure to follow up and set up an interview.
* Medicare and Health Insurance For Seniors Over 60 to 65 Compare Quotes.