How Seniors Can Manage Rising Healthcare Costs

Aging isn’t fun for many people. Retirement and the free time it gives you is countered by increased aches and illnesses and rising healthcare costs. Even if you’re on a fixed income as a senior, there are several things you can do to manage rising healthcare costs.

Take Advantage of Your Free Time

The flexible schedule of retirement means you can find time to eat healthily, get plenty of sleep, and exercise daily. These preventive steps can improve your overall health, decreasing your healthcare expenses. While you’re at it, make sure you get your annual flu, shingles, and pneumonia shots.

Understand Your Healthcare Coverage

Whether you have private insurance, Medicare, Medicaid, or a combination of coverage, take time to read the policies and understand what’s covered. Compare what’s covered in your policy to the bills you receive and make sure that you’re not paying for anything that should be covered. 



You should also ensure that you know which pharmacies are in-network and determine if you might save more money by using mail-order prescriptions.

Consider All Your Assistance Options

When you start to need assistance with cooking, cleaning, taking medications or other tasks of daily living, your first thought might be an assisted living or nursing home. But before you leap to that often expensive option, consider in-home senior care first. 

In-home senior care allows you to remain in the comfort of your own home while also getting the assistance you need. It’s often a fraction of the cost of moving into a facility.

Borrow Medical Equipment

There may be times you need a wheelchair, walker, crutches or other medical equipment, but only for a little while. If you know you won’t need medical equipment permanently, or you’re not sure, try borrowing it from a medical equipment lending closest. 

The equipment is in perfect condition, cleaned and sanitized before lending it out again. This can save you an enormous amount of money, especially if you’ll need more than one piece of equipment—graduating from a wheelchair to a walker to crutches after a leg or hip surgery, for example.

Healthcare is a necessity throughout life, but especially as you age. But it’s not entirely non-negotiable. If you know what to look for and the steps to take, you can make your healthcare more affordable. Whether you’re counting your pennies or looking to have a little extra fun money, saving money is always welcome.