Showing posts with label Healthcare Costs. Show all posts
Showing posts with label Healthcare Costs. Show all posts

Sunday, December 15, 2019

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.


Thursday, December 5, 2019

4 Expenses You'll Need to Think About as You Approach Retirement



While the prospect of bidding farewell to employment entices most, many seniors fail to account for the added expenses that come with retirement. Though you’ll likely have some income coming your way, it’ll be considerably less than what you’ve grown accustomed to receiving. As you grow older, here are four expenses that you’ll want to be mindful of.

Healthcare


Old age generally gives rise to medical issues. With that said, you’ll need to account for frequent doctor visits and potential medications. On average, retirees rack up $500 a month in medical expenses. 


From deductibles and copays to premiums and coinsurance costs, there are various fees that come into play. To ensure that your savings account doesn’t take a hit, set aside ample funds to cover healthcare costs.

Funeral Needs


While this is a grim reality, death will inevitably rear its ugly head. When the time comes to commemorate your loss, you don’t want your loved ones to have to carry the financial burden. 




With that in mind, place enough money to the side so that your family members can tend to your funeral needs without dipping into their own wallets. Moreover, you’ll want to guarantee that you’re working with an affordable funeral home service like Damar Kaminski Funeral Home & Crematorium.

Leisure


With so much free time on your hands, you’ll have nothing but opportunities to relax. Sitting inside all day can be a drag, so you’ll want to fill your time with activities that spark joy. Unless you can score some free leisure, these outings will generally cost money. 


If your budget doesn’t allow for frequent trips to the museum or movie theater, consider volunteering. Not only is this a free alternative, but it’ll also provide a chance to give back to the community.

In-Home Care


If you can no longer care for yourself, enlist the help of elderly care professionals. With their helping hands, you’ll be able to carry out daily activities with ease. Bear in mind that these services are rather costly. If this is the avenue you pursue, don’t be alarmed by the high rates. By accounting for this expense in advance, you’ll have enough funds at your disposal to cover the costs.

If retirement is right around the corner, there are numerous ways you can plan for your new lifestyle. Above are some common expenses that you’ll want to take into consideration.



Tuesday, March 20, 2018

A Checklist Before Opting for Breast Augmentation Surgery



Breast augmentation is one of the most popular cosmetic surgeries performed all over the world. However, it is always advisable for an individual to properly research, ask questions and find out everything there is to know about this procedure before opting to have it done on their body.

There are a few important things which one should know about before opting for breast augmentation NYC. Having an idea about the points mentioned below will make the process easier for the patient too.


Type of Implant you should opt


There are two main types of breast augmentation NYC implants that a patient can choose from; a saline implant and a silicone implant. The saline implant is inserted into the breast pocket and then filled with sterile salt water. 


A silicone implant, on the other hand, is already filled, and is simply inserted and positioned into place into the breast pocket. 





It is important to discuss both these choices during the initial consultancy so that the doctor and the patient can both figure out which one would work best for the patient. 


There are many factors which a doctor will take into account before making this decision, as it might affect the overall health of a patient adversely after getting the implant.


Choose the Right Surgeon


When opting for a breast augmentation procedure, is it not enough to simply have a picture and goal in mind and approach the first plastic surgeon willing to perform the procedure. 


The rate of scarring and healing after the procedure highly depends on the kind of surgeon that one chooses; and the skill, experience and expertise of the surgeon. It is best to spend a lot of time researching on the best plastic surgeons those can perform this procedure, and consulting with them about the plans and techniques involved.

Make the Right Choice


A breast augmentation surgery is not simply as easy as choosing a certain shape and size and getting the procedure done. There are several aspects which have to be taken into account and several important choices have to be made along with the doctor. Some of these include:

  • The desired goal or look after the procedure 
  • The current anatomy of the breast of an individual 
  • The kind of implant, the pocket size and the place of incision to be made 
  • The nipple location 
  • The type of implant being use; saline or silicone
  • The height and location of the implant

Breast Implant Profile


The breast implant profile depends upon the desired result that a patient would like to achieve after the breast augmentation surgery. The round breast implant profile will give a different look to the breast, whereas the teardrop or anatomical breast implant profile would give a more natural look to the breast. 


It is important to look into the options and decide the end result before choosing any of these options. One should be clear about these basic information before undergoing the process.

Breast augmentation NYC is a popular procedure and the demand for this procedure is steadily rising. It is important to keep in mind these points before opting for the breast augmentation surgery.



Friday, December 1, 2017

Managing Your Healthcare Costs During Retirement



For many Americans, especially those suffering from chronic illness, healthcare ends up being the most expensive part of your budget. For retirees, or those who are looking to retire soon, there is a lot of anxiety over unexpected health issues that could bring a large financial burden with them. 

It is worth your time to manage your healthcare budget carefully, so you know what to expect, and are prepared when sudden or unexpected costs arise.

Medicare


Let’s talk about Medicare first. The biggest misconception people have with Medicare, is that once you qualify for it, your healthcare costs disappear. It is certainly portrayed that way in the Media at times, but in fact Medicare does not cover everything. 

The average couple will still end up paying over $200,000 in health care costs from the age of 65 on, including the Medicare premiums. What Medicare is good for is covering the basics. It is similar to buying an economy class seat on an airplane. 

You will get where you need to go, but the first-class lounge seems a lot comfier. Things Medicare will not cover include routine dental work, cataract surgery, newer drug treatments, state-of-the-art medical care, or more personalized medical care. 




The cost for specialized drugs can be expensive as well, even with Medicare covering most of the tab. Many cancer drugs, and other drugs necessary for multiple-sclerosis can reach into the tens of thousands of dollars.

You can still choose to keep a private insurance along with your Medicare, to help mitigate some of the costs, but there is simply no denying that healthcare is expensive. Even a couple who has Medicare and private insurance can expect to pay upwards of $20,000 a year from the age of 65 on.


How Do You Pay for It?


One way to prepare for the costs of healthcare after retirement is to open a health savings account or HSA. HSAs are a great way to save money that will be used for medical expenses thanks to a triple-tax free feature. 

As long as the money is used for medical expenses, a person who owns a HSA can add money to his account tax free, grow the money tax free, and withdraw the money tax free. 

There are yearly maxes you can contribute to the account – $3,400 for a single person, $6,750 for a family, and those 55 and older can add an extra $1000 per year. The sooner you start one the better, as the money can grow tax free. 

They are ideal ways to confront sudden and unexpected medical expenses, such as a loved one getting injured in a car wreck, or a new illness. The caveat with HSAs is that they usually are paired with a high deductible, so your yearly healthcare costs can remain quite high. Ideally those costs are paid with funds outside of the HSA, so the money inside of it can continue to grow.

Find Low Price Options


Many health care experts recommend searching out low price options for treatments. You can find similar treatments for wildly different price points. For example, an MRI in a hospital can cost you up to $3000 while the same service would cost $300 at a standalone clinic. 

Participating in trial cases is another way to save money. Drug companies are always looking for clinical trials to test their new products, and you can get potentially effective treatment and drugs for a fraction of what you would pay otherwise.

Your overall health is as much a factor in your healthcare costs as any chronic illness. Eating healthy, and getting regular exercise will keep you away from the doctor more than any miracle drug. 

Mental stimulation is also an important part of your health, as consistent mental exercise prevents dementia which is one of the biggest costs in long-term care. A lack of social inclusion, or deteriorating mental and emotional health can contribute to higher levels of stress and anxiety. 

This only serves to complicate and worsen already existing medical issues. Making sure you are taking care of yourself mentally and physically, even as you age, will give you the best chance at avoiding an outrageous hospital bill.

Wrap Up


Planning for healthcare costs during your retirement is the most glamorous task around, but it is necessary. Costs continue to go up and it doesn’t seem like Congress is going to find a solution anytime soon. Still, if you plan ahead of time you should have no problems meeting the costs of healthcare during retirement.




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