Did you know that almost 20% of America’s GDP goes towards healthcare? That’s a large percentage! Heath care is a common topic, especially in today’s world, and the options certainly haven’t gotten easier. Another downside to health care is that it’s incredibly expensive, leaving many seniors frustrated and stuck. At iWill Advisors, we work with clients to help them sort through their options. We know that as a senior looking into health care solutions, you may feel overwhelmed. If you’re looking for senior health care solutions in South Florida, here is the top 3:
Run by the government, this is an insurance option for those who are at least 65, and have worked full time for 10 years or more. The interesting part of Medicare is that it has four different options. Part A, Part B, Part C, and Part D. Part A is the most commonly used, as it covers the basics such as hospitals, hospice, nursing facilities, and more. Part B covers any outpatient needs such as doctor visits, surgeries, medical equipment, lab tests, and more. Part C, or Medicare Advantage, is owned by private companies. Because they are owned by private companies, the costs can vary. Part D helps cover prescriptions.
As opposed to the alternative above, Medicaid is run by the state, and only somewhat funded federally. Because this option is financed at state levels, each state has their own terms and rules. Hiring a professional like iWill Advisors is helpful, as we can help you sort through your state’s version. This is generally an option for those who have spent most of their money. Medicaid will then help pay for nursing homes, hospice, at home services, and more.
This option is available through private health insurance companies. Often times, employers will have this type of insurance for their employees. The downside to private insurance is that it can be much more expensive. They are also more selective than other insurance options. The upside to these insurances is that they cover what Medicaid and Medicare don’t, such as co-pays, deductibles, and more.
If you or your loved one is looking for senior health care solutions in South Florida, iWill Advisors may be the best option for you. We know how stressful finding health insurance can be, especially with the outrageous prices, the confusing terms, and the plethora of choices. Make sure you’ve made the right choice and call iWill Advisors today.