How Can Retirees Stay Covered?

How Can Retirees Stay Covered?

Increasing health care cost is a major concern for people and this is particularly true in the case of senior citizens. As senior citizens are retired, they get more fear about the finance needed for immediately medical expenses if any. Generally, it is recommended that people should plan their retirement life, well before their retirement, so that they can lead a peaceful life after retirement. Experts are the opinion that a right mix of investments and returns can create a perfect security cover. Appropriate thinking and planning the monetary status in advance can keep elders away from monetary hassles.

Increasing medical costs:

According to a recent report, it was found that the cost of treatment like removal of gall bladder and angiography has shot up by 50-60% as compared to what it was in the year 2016.  It is found that medical inflation is rising at a rate of 15% per annum. According to a survey conducted among income earners in India, it was found that many of them are concerned about the health and financial insecurity. The reports further add that a number of senior citizens in India are facing lack of financial resources for financing treatment and this condition is termed as low insurance penetration.

What are the reasons behind the insecurity?

Financial experts are of the opinion that the non-existence of ample health coverage is the important trigger for insecurity, particularly for individuals, who rely on the group health insurance scheme provided by their employer. When these people rely on their health insurance cover provided by their employer, they will be left without any such coverage when they attain retirements.

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Increasing health care cost is a major concern for people and this is particularly true in the case of senior citizens. As senior citizens are retired, they get more fear about the finance needed for immediately medical expenses if any. Generally, it is recommended that people should plan their retirement life, well before their retirement, so that they can lead a peaceful life after retirement. Experts are the opinion that a right mix of investments and returns can create a perfect security cover. Appropriate thinking and planning the monetary status in advance can keep elders away from monetary hassles.

Financial experts are of the opinion that the non-existence of ample health coverage is the important trigger for insecurity, particularly for individuals, who rely on the group health insurance scheme provided by their employer. When these people rely on their health insurance cover provided by their employer, they will be left without any such coverage when they attain retirements. The reason is that at the age of retirement, it will be difficult for them to get a coverage due to increase in the premium cost and lot of medical tests involved just because of their age factor. This is where, the retirees are left with three options before them and they are as follows:

• The initial option they can choose is to continue with the coverage provided by the employer so far by paying the whole premium amount

• The second option is to get an individual coverage from the same insurance company that was providing coverage under group insurance scheme

• The third option is to take a separate coverage for oneself.

The best among the three:

Of these three options, the first can be the best because the benefits will not go away. In this case, there will also not be any waiting period of 3-4 years for getting coverage to any pre-existing ailments. However, when choosing the first option, it is better to enquire whether all the continuity benefits will accumulate to the individual or not. This option will also bring money saving benefits to the individual and the settlement of claims will also become easier in this case. The negative thing here is that only a few organizations accept for this type of continuity insurance coverage.

So, retirees can stay covered by choosing any of the above-mentioned three options and can lead a tension free life after retirement.

 
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Comments

# Rohan 2018-12-10
Hello, plz tell me what are venereal diseases, can you plz suggest some good gynecologist in Jashpur ?
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# Dr. Naresh 2018-12-11
veneral diseases are those which can be spread through sexual contact, The spreading agents can bacteria ,viruses etc, The examples are syphilis and gonorrhoea can be can spread by sexual contact, you can also find list of Gynecologist in Jashpur.
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# Vivaan 2018-11-13
Hello, plz let me know Can gonorrhoea be transmitted to small children, should I consult with good maternity doctor in Shajapur
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# Dr. Naresh 2018-11-14
yes,this can be transmitted by infected mothers to children, In this case it is called as ophthalmia neonatorum, find list of good doctor-.Obstetrician in Shajapur
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# Himmat 2018-10-31
Hello, plz tell me what are venereal diseases, can you plz suggest some good gynecologist in Itawa ?
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# Dr. Pooja 2018-11-01
veneral diseases are those which can be spread through sexual contact, The spreading agents can bacteria ,viruses etc, The examples are syphilis and gonorrhoea can be can spread by sexual contact, you can also find list of Gynecologist in Itawa.
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# Aarush 2018-10-17
Hii, can you plz tell me,What changes can occur in skin in syphilis patient, also suggest good obstertrician in Imphal West ?
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# Dr. Pooja 2018-10-18
Rashes can occur on the skin in the near areas,rashes can be discrete and also symmetrical in nature, Rashes can also be pustular, you can consult with Obstetrician in Imphal West.
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# Harikiran Older than three months
Hello, plz let me know What is menarche, I want to consult with gynec in Kaushambi, plz suggest ?
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# Dr. Naresh Older than three months
the process of starting of the menstrual cycle in females is called menarche, plz find good Gynecologist in Kaushambi.
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# Rohan Older than three months
Hii, I am from Beed, Please tell that can moisture be responsible for infections ?
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# Dr. Naresh Older than three months
Hello, good to see that you are from Beed, yes,that is why u must keep your genital organs clean and dry because moisture can favour infections.
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# Lakshay Older than three months
Hii, I am from Pithoragarh, can you plz tell me What is the mode of infection in syphilis ?
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# Dr. Naresh Older than three months
90 percent cases in syphilis are transmitted through unsafe sexual contacts, Mothers can also pass infection through breast milk, you can also consult with good Gynecologist in Pithoragarh .
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# Aayush Older than three months
Hii, I am from Krishna, plz let me know What is gonorrhoea ?
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# Dr. Naresh Older than three months
Hello, Gonorrhoea is a sexually transmitted disease caused by the Neisseria gonorrhoea,This disease is caused in the genitourinary tracts, for more details plz visit good gynec in Krishna, find list of Gynecologist in Krishna
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# Harikiran Older than three months
Hii, I am from Khagaria, I want to know can cigerrete sharing can lead to syphilis ?
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# Dr. Pooja Older than three months
yes,sharing cigerette,drinking cups,common spoons etc can also lead to syphilis, Generally whenever the fluid of a person who has syphilis is shared,the infection can occur, you should also consult with good Gynecologist in Khagaria
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# Aarush Older than three months
Can gonorrhoea be caused by the infected towels, also provide the list of good gynecologist in Goalpara?
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# Dr. Naresh Older than three months
Gonorrhoea can be transmitted by the infected towels, handkerchiefs of the infected person, But most cases are due to sexual contacts, find here list of good Gynecologist in Goalpara.
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